E$11-9($Algo$)$ Computing Growth in Savings Account: Single Amount $[$LO $11-$S$1]$

On January $1,2021,$ you deposited $$6,800$ in a savings account. The account will earn $9$ percent annual compound interest, which will

be added to the fund balance at the end of each year.

Required:

What will be the balance in the savings account at the end of $7$ years? $($Future Value of $$1,$ Present Value of $$1,$ Future Value Annuity.

of $$1,$ Present Value Annuity of $$1.$

Note: Use appropriate factor$($s$)$ from the tables provided.

What is the total interest for the $7$ years? $($Future Value of $$1,$ Present Value of $$1,$ Future Value Annuity of $$1,$ Present Value

Annuity of $$1.)$

Note: Use appropriate factor$($s$)$ from the tables provided.

How much interest revenue did the fund earn in $2021$ and in $2022?$

Complete this question by entering your answers in the tabs below.

What will be the balance in the savings account at the end of $7$ years?

Note: Round your final answer to $2$ decimal places.