Your wealthy parents have agreed to supplement your income on your college graduation day. They give you $60,000 today and then 5 subsequent annual payments, starting one year from now, with each payment decreasing by $10,000 per year. Since you already have a great actuarial job, you open up a new savings account that pays an annual effective interest rate of 7.4% and deposit each of the payments from your parents into the account. What is the savings account balance after 6 years?