Elin is a freshman in college. On December 31, 2, 009, Elin's parents opened a savings account for her with an 8% interest rate and put an equal amount of money in it every year until (and including) December 31, 2022 (first deposit is 12/31/2009 and last deposit is 12/31/2022). Elin's parents will not make any more contributions.
Elin deposits $5,500 per year into the same account while in college (December 31,2023 until and including December
31, 2027 Immediately making that last deposit of $5,500 on December 31, 2027 Elin has a bank balance is $100,000.
Draw a cash flow diagram from the bank's point of view assuming Elin withdraws the entire $100,000 balance on December 31, 2027 immediately after making the last $5,500 deposit).
