How much will your corporation have accumulated in a Trust Fund account, which it has set up to satisfy the required benefits due to its retired employees at the end of 20 years from now, if it deposited $20,000 at the beginning of the first year, and $5,000 at the end of year two and thereafter, with the last deposit made at the end of year 20? Assume the firm can earn a sure 6% annual interest rate (return) on the deposited funds. Solve this problem using each of the following approaches and comment of the discrepancy in the results, if any:

a. Using Long step-by-step approach with timeline

b. Using formula (see above)

c. Using Financial calculator – TVM

d. Using Financial calculator – CF register

e. Using Excel spreadsheet