Question 5
2 pts
You are saving for a holiday house by depositing your annual bonus into a savings
account that pays interest at 5% p.a. compounded annually. Your bonus is initially
$15,000 a year for the first 5 years, and then increases to $25,000 a year for the
next 10 years. How much will you have accumulated at the time of your final
deposit of $25,000?
$397,331.78
$424,457.38
$419,758.41
$449,457.38
$433,944.10