Timothy will invest $5000 every year-end in a bank account for the next 10 years. He will hold the account for another 6 years then withdraw the...

Timothy will invest $5000 every year-end in a bank account for the next 10 years. He will hold the account for another 6 years then withdraw the total balance. If the account earns 8% p.a. (effective annual rate) until the end of year 10 and 6%p.a. (effective annual rate) for the remaining period, calculate how much Timothy will withdraw in 16 years.