What is the future value at the end of year 10 of a series o

What is the future value at the end of year 10 of a series of 6 deposits? The first deposit occurs at the end of year 5 and is $750. The remaining deposits increase by $150/year (so the last deposit will be $1500 and will occur at the end of year 10). Assume i = 10% annual rate compounded annually.

Solution

I = 10% compounded annually

FV = 750 x 1.1⁵ + 900 x 1.1⁴... + 1500 x 1.1⁰

FV = $ 8360.1225