please solve with formula used and steps provided

8. Assume that you plan on buying a condominium in Hawaii five years from now. You estimate that you can save $2,500 per year. You plan on depositing the money at the end of the year for each of the 5 years in a bank account that earns 5% interest compounded annually. What is the most that you will be able to offer for your condo at the end of the 5 years