You decide to open an IRS approved retirement account at your local brokerage firm. Your best estimate is that it will earn 11%. At the end of each year for the next 26 years, you will deposit $4,600 per year into the account (26 total deposits). Three years after the last deposit, you will begin making annual withdrawals.
Required:
a. How much money is in the account 1 year before the first withdrawal?