You are contemplating retirement in 10 years. The current value of your portfolio consists of $100,000 in a savings account and $300,000 in an index mutual fund. The historical annual rates of return for the savings account and mutual fund are 7.00% and 12.00%, respectively. Your plan is to augment the savings account by:

• Depositing $10,000 per year at the end of each of the next 5 years.
• After which you will deposit $20,000 per year at the end of each year for 5 additional years.

Calculate the future value of the annuity additions to savings when you retire in 10 years.