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Question 3 Robert signs a 1 4 - year contract with a team that pays him $ 1 . 5 million right away, followed by:

Question 3
Robert signs a 14-year contract with a team that pays him $1.5 million right away, followed by:
$3 million at the end of year 1,2,3
$5 million at the end of years 4 and 5
Nothing at the end of year 6 and 7
$10 million at the end of years 8 thru 12
$14 million at the end of years 13 and 14.
Robert never uses that money and deposits all of it into a savings account that pays 7% interest.
a) What is the account balance at the end of 10 years?
b) What is the account balance at the end of 14 years?
c) If Robert leaves the money in the count (no new deposits) for 6 more years, what is the balance in the account at the end of 20 years?

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