In 2013 Bill Gates had a private wealth of about $28 billion after he reduced his stake in Microsoft from 21% to around 14% by moving billions into his charitable foundation. Lets see what Bill Gates can do with his money in the following problems.

d. If Bill Gates decides to support his foundation with further funding of $1 billion that he will contribute to the saving account at the end of each year during the next 20 years and the bank offers him a return of 8%, how much will be generated on this saving account after 20 years? (5 points)