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Starting at the end of this year, you plan to make annual deposits of $8,000 for the next 10 years followed by deposits of $9,000
Starting at the end of this year, you plan to make annual deposits of $8,000 for the next 10 years followed by deposits of $9,000 for the following 10 years. The deposits earn interest of 7.0%. What will the account balance be by the end of 25 years? Round to the nearest cent. [Hint: There are two annuities. Convert them to single cash flows using the FV annuity formula, then move the values to the end of year 25.]
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