An investor is considering depositing $10,000 in an account earning 3% compounded monthly for the next two years. Afterwards, he will take this amount and contribute $500 monthly for the next three years at a rate of 5% compounded annually. Finally, over the next three years, he will withdraw $500 annually at a rate of 4.5% compounded semi-annually. Determine the future value at the end of this time period.

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The Answer of An investor is considering depositing $10,000 in an account earning 3% compounded monthly for the next two years. Afterwards, he will take this amount and contribute $500 monthly for the next three years at a rate of 5% compounded annually. Finally, over the next three years, he will withdraw $500 annually at a rate of 4.5% compounded semi-annually. Determine the future value at the end of this time period.

An Investor Is Considering Depositing $10,000 in an Account Earning