How much money will William have in her savings account on December 31 2016, assuming the following facts:
- William plans to deposit $5000 on January 1st of each year, beginning on January 1, 2014.
-William's parents plan to match the annual interested earned on William's account on December 31st of each year
-Interest rates were 1.5% from January 2014 - March 2014
-Interest rates are projected to be 2% from April 2014 - December 2014
-Interest rates are projected to be 3.5% from January 2016 - December 2016.
-Interest compounds monthly
-Williams plan to withdraw $2,500 on April 2016