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help with practice problem 7 On January 1, 2021, you deposited $5,500 in a savings account. The account will eam 8 percent annual compound interest,
help with practice problem 7 On January 1, 2021, you deposited $5,500 in a savings account. The account will eam 8 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 9 years? (Future Value of $1. Present Value of $1, Euture Value Annuity of $1. Present Value Annuity of \$1.) Note: Use appropriate factor(s) from the tables provided. 2. What is the total interest for the 9 years? (Future Value of $1. Present Value of $1. Future Value Annulty of $1, Present Value Annuity of \$1.) Note: Use appropriate factor(s) from the tables provided. 3. 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 9 years? Note: Round your final answer to 2 decimal places. On January 1, 2021, you deposited $5,500 in a savings account. The account will earn 8 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 9 years? (Future Value of $1, Present Value of $1, Euture Value Annuity of $1. Present V. Annuity of $1.) Note: Use appropriate factor(s) from the tables provided. 2. What is the total interest for the 9 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. 3. 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 is the total interest for the 9 years? Note: Round your intermediate and final answer to 2 decimal places. On January 1,2021 , you deposited $5,500 in a savings account. The account will earn 8 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 9 years? (Future Value of $1, Present Value of $1, Futur Value Annuity of $1. Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided. 2. What is the total interest for the 9 years? (Future Value of $1. Present Value of $1, Future Value Annuity of $1, Presen Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided. 3. How much interest revenue did the fund earn in 2021 and in 2022 ? Complete this question by entering your answers in the tabs below. How much interest revenue did the fund earn in 2021 and in 2022? Note: Round your final answers to 2 decimal placeff. TABLE 11.1A Future Value of $1 TABLE 11.2A Present Value of $1 TABLE 11.3A Future Value of an Annuity of $1 TABLE 11.4A Present Value of Annuity of $1 TABLE 11.1A Future Value of $1 TABLE 11.2A Present Value of $1 TABLE 11.3A Future Value of an Annuity of $1 TABLE 11.4A Present Value of Annuity of $1
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