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FINANCIAL ACCOUNTING II Effective January 2, 2018, The W&M Financial Services Company must provide John and Mary Doe with information relating to the following three
FINANCIAL ACCOUNTING II Effective January 2, 2018, The W&M Financial Services Company must provide John and Mary Doe with information relating to the following three alternatives for establishing a fund to be available on December 31, 2028, to be used for the college expenses of their daughter: (1) A single sum of $100,000 to be deposited on January 2, 2018, at an expected annual rate of return of 8%. (2) A sum of 15,000 to be deposited every January 2nd, beginning on January 2, 2018, at an expected annual rate of return of 6% (3) In order to accumulate a total of $235,000 on December 31, 2028, an amount of $_ to be deposited every December 31st, beginning on December 31, 2018, that is expected to earn interest at an annual rate of 7%. Prepare a schedule of alternatives that The W&M Financial Services Company would provide to the Doe family on January 2, 2018
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