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Case C - After attending a recent meeting of The Accounting Society, you were inspired to set a goal to be able to retire with
Case C - After attending a recent meeting of The Accounting Society, you were inspired to set a goal to be able to retire with $2,000,000. You will put $6,000 of your savings into a retirement fund on January 1, 2022. After you graduate, you plan to make additional annual deposits into a fund at the BEGINNING of each of the 30 years, starting on January 1, 2025. These deposits will not be $6,000 but they will be in equal amounts each year (annuity due since payments are at the BEGINNING of each year). The fund will earn 7% interest compounded annually for all 33 years. Prepare a schedule to show (1) the year (i.e. 2022, 2023, etc.), (2) the beginning balance each year, (3) the amount of the deposit each year, (4) the amount of interest each year, and (5) the ending balance each year. Format each of the amounts with two decimals. Please include totals at the bottom of your spreadsheet for the amount of deposits and the amount of interest earned during the entire 33 year period (3 years without deposits and 30 years with deposits)
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