Tom puts 500 into a savings account that pays an effective interest rate of 5% for 10 years, with interest credited at the end each year. If a withdrawal is made within the first seventy months then a penalty of 6% of the withdrawal is applied. Tom withdraws K at the end of years 4, 5, 6 and 7. The balance in the account at the end of year 10 is 500. What is the balance at the end of year 5? Tom puts 500 into a savings account that pays an effective interest rate of 5% for 10 years, with interest credited at the end each year. If a withdrawal is made within the first seventy months then a penalty of 6% of the withdrawal is applied. Tom withdraws K at the end of years 4, 5, 6 and 7. The balance in the account at the end of year 10 is 500. What is the balance at the end of year 5