Problem:
To save money, you want to begin contributing money to a risky brokerage account. Your plan is to make 4 contributions to the brokerage account. Each contribution will be $5,000 and each will be made at the beginning of each quarter beginning now and until the end of the year (the first immediately and then every 3 months). Assume that the account pays an 8% quarterly return with monthly compounding. How much money do you expect to have in the account immediately after making the last deposit?