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Bramble Company has decided to begin accumulating a fund for plant expansion. The company deposited $105,000 in a fund on January 2, 2020. Bramble will

Bramble Company has decided to begin accumulating a fund for plant expansion. The company deposited $105,000 in a fund on January 2, 2020. Bramble will also deposit $52,500 annually at the end of each year, starting in 2020. The fund pays interest at 4% compounded annually. What is the balance of the fund at the end of 2024 (after the 2024 deposit)?

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