Question 1141450
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Treat the original $55 as a lump sum left for 10 years; treat the $20 added at the end of each year as an annuity.<br>
(1) $55 at 6% for 10 years: {{{55(1.06^10)}}}<br>
(2) $20 at the end of each year for 10 years at 6%: {{{20((1.06^10-1)/.06)}}}<br>
Use a calculator and add the two amounts....