If $2 (XK) is deposited at the end of each quarter for 2 years into an ordinary annuity earning 7 9 compounded quarterly, construct a balance sheet showing the interest earned during each quarter and the balance at the end of each quarter ...

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If $2.(XK) is deposited at the end of each quarter for 2 years into an ordinary annuity

Question:

If $2.(XK) is deposited at the end of each quarter for 2 years into an ordinary earning 7.9% compounded quarterly, construct a showing the interest earned during each quarter and the balance at the end of each quarter.
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...