You are saving for your retirement. You have decided that one year from today you will deposit $3000 (which is 3% of your salary) in an account which will earn 6% per year. The salary (and hence the amount deposited each year) will increase at 4% per year throughout your career. The final deposit will be made at the end of 35 years from now, when your retirement starts. How much money will be available in the account at the time of your retirement?

Please show and explain formula