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You have a savings plan where you will start saving $1,000 next year, then increase your savings deposits by $500 each year for years 2,

You have a savings plan where you will start saving $1,000 next year, then increase your savings deposits by $500 each year for years 2, 3, 4, and 5 (that is, your savings pattern will look like this >> 1,000 - 1,500 - 2,000 - 2,500 - 3,000 - 3, 500). After the sixth year, you will make no more savings deposits, but will allow your savings to continue to grow in year 7 through 10. You anticipate that your investments will earn 7% annually. At the end of year 10, how much will you have accumulated in your savings account?

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