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Computing Future Value of Annuity DepositsWith and Without Deferred Payment Fargo Inc. decides to accumulate a debt retirement fund by making ten equal annual deposits
Computing Future Value of Annuity DepositsWith and Without Deferred Payment Fargo Inc. decides to accumulate a debt retirement fund by making ten equal annual deposits of $15,000 at the end of the next ten years. Assume the fund accumulates annual compound interest at 7% per year, which is added to the fund balance. Answer the two questions that follow. Round your answer to the nearest whole number. Do not use a negative sign with your answer. $ a. What is the balance in the fund immediately after the last deposit? b. What is the balance in the fund after the last deposit assuming that the first payment is deferred for 3 years? $
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