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for the required 2-3 what would be the interest earned? At the end of each year, you plan to deposit $4,000 in a savings account.
for the required 2-3 what would be the interest earned?
At the end of each year, you plan to deposit $4,000 in a savings account. The account wire added to the fund balance at year-end. The first deposit will be made at the end of Year 1 . (FV of $1. PV of $1. EVA of $1, and PVA of $1 ) Required: 1. Assume you follow GAAP. Prepare the required journal entry at the end of Year 1 . 2. What will be the balance in the savings account at the end of the 10 th year (i.e., ofter 10 deposits)? 3. What is the interest eamed on the 10 deposits? 4. How much interest levenue did the fund earn in the second year? In the third year? 5. Assume you follow GAAP. Prepare the all required journal entries at the end of the second and third years. Complete this question by entering your answers in the tabs below. 2. What wili be the balance in the savings account at the end of the 10th year (li.e, after 10 deposits)? (Round your answer to nearest whole dollar.) 3. What is the interest earned on the 10 deposits? (Round your answer to nearest whole dollar.) At the end of each year, you plan to deposit $4,000 in a savings account. The account wire added to the fund balance at year-end. The first deposit will be made at the end of Year 1 . (FV of $1. PV of $1. EVA of $1, and PVA of $1 ) Required: 1. Assume you follow GAAP. Prepare the required journal entry at the end of Year 1 . 2. What will be the balance in the savings account at the end of the 10 th year (i.e., ofter 10 deposits)? 3. What is the interest eamed on the 10 deposits? 4. How much interest levenue did the fund earn in the second year? In the third year? 5. Assume you follow GAAP. Prepare the all required journal entries at the end of the second and third years. Complete this question by entering your answers in the tabs below. 2. What wili be the balance in the savings account at the end of the 10th year (li.e, after 10 deposits)? (Round your answer to nearest whole dollar.) 3. What is the interest earned on the 10 deposits? (Round your answer to nearest whole dollar.) Step by Step Solution
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