1. Rebecca and Salvador have a grand plan. They will deposit their combined annual bonuses and other savings of $10000annually (annual deposits) for the upcoming ten years and then take a yearoff from their jobs and live it up in Paris for in year 11 spending $8000monthly (end of month). They also will withdraw a total of $15000 at theend of year 10 for airfare setting up an apartment and to live on for thefirst month. The last months payment will pay for getting home buying giftsfor their friend and relatives etc. The annuity in which they will investpays an annual percentage rate of 4.75% compounded monthly and this rate isapplicable to both the deposit and withdrawal phases of their plan. Howmuch will they have at the end of the Paris diversion?