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Doe Company deposits $11,340 today in a mutual fund. The fund pays interest of 6% compounded annually. Below are the various discount rates for 6%

Doe Company deposits $11,340 today in a mutual fund. The fund pays interest of 6% compounded annually. Below are the various discount rates for 6%

Future Value of $1

Present Value of $1

Future Value of an ordinary annuity of $1

Present Value of an ordinary annuity of $1

Year 1

1.06000

0.93458

1.0000

0.94340

Year 2

1.12360

0.89000

2.0600

1.83339

Year 3

1.19102

0.83962

3.1836

2.67301

The balance in the fund at the end of 3 years will be:$___________________

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