You just received a job offer for $60,000/year. For simplicity, let's assume you will get paid $5,000 on the 1st of each month, starting July 1st. The bank informed you that if you enroll in an automatic allocation of 10% from each paycheck into a special interest paying account, you will receive a 7% annual interest compounded monthly on those funds. At the beginning of which month will you have at least $10,000 in that account? How much money exactly will you have in that account at that time? 0 Months: 1Paycheck (beginning of the month) 2 Sp. Account Allocation (beginning of the month): 3 Interest rate 4 # of bank Payments: 5 Amount in Sp. Account (beginning of the month): July $ $ August 5,000.00 $ 500.00 $ 7% ? October November December September 5,000.00 $5,000.00 $5,000.00 $ 5,000.00 $ 5,000.0 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.0 2 March April 5,000.00 $5,000.00 $ 500.00 5 500.00 5 December February ber January 000.00 55,000.00 $5,000.00 5 500.00 5 500.00 5 500 00 5 June July 5,000.00 $ 5.000.00 5 500.00 5 500.00 5 May 5.000.00 $ 500.00 5 August 5,000.00 $ 500.00 5 September 5,000.00 $ 500.00 5 October 5,000.00 $ $00005 December January November February 5,000.00 $5,000.00 $5,000.00 $5,000.00 500.00 $ 500.00 500 00 $ 500.00 5 5,000.00 $ 500.00 5