You are interested in saving money for your first house. Your plan is to make regular deposits into a brokerage account which will earn 10%. Your...

You are interested in saving money for your first house. Your plan is to make regular deposits into a brokerage account which will earn 10%. Your first deposit of $5,000 will be made today. You also plan to make four additional deposits at the beginning of each of the next four years. Your plan is to increase your deposits by 10% a year. (That is, you plan to deposits $5,500 one year from now, $6,050 two years from now, etc.) How much money will be in your account in five years?

Year InterestPresent valueFuture value Deposits0500015500260503665547320.510%$ 25,000.0040262.75