FUTURE VALUE OF AN ANNUITY. On December 31, 19x1, you sign a con- tract to make annual deposits of $4,200 in an investment account that earns 10%. The first deposit is made on December 31, 19x1.

REQUIRED:

1, What will the balance in this investment account be just after the seventh deposit has been made if interest is compounded annually?

2. How much interest will have been earned on this investment account just after the seventh deposit has been made if interest is compounded annually?

3. How much interest will have been earned on this investment account just before the seventh deposit has been made if interest is compounded annually? 4, What will the balance in this investment account be just after the third deposit has been made if interest is compounded semiannually?