You have decided to deposit an amount of cash to a bank at the end of each year for the next 10 years. You have also decided that these deposits will increase at a constant growth rate of 3%. The first deposit (i.e., PMT₁) is for 500.

The interest rate in the market is 8%.

Find the amount of cash that you will deposit at the end of year 10 (i.e., PMT₁₀).