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i just need answers for 2,3 and 4. pls help me out. At the end of each year, you plan to deposit $2,500 in a

i just need answers for 2,3 and 4. pls help me out. image text in transcribed
image text in transcribed
At the end of each year, you plan to deposit $2,500 in a savings account. The account will earn 7% annual interest, which will be 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. FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Required: 1. Prepare the required journal entry at the end of Year 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the required journal entry on December 31, Year 1. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Savings account 2,500 Cash 2.500 Record entry Clear entry View general journal 2. What will be the balance in the savings account at the end of the 10th year (i.e., after 10 deposits)? (Round your answer to nearest whole dollar.) Balance in the savings account $ 32,445 3. What is the interest earned on the 10 deposits ? (Round your answer to nearest whole dollar.) Interest earned $ 34,541 4. How much interest revenue did the fund earn in the second year? In the third year? (Do not round intermediate calculations. Round your answers to nearest whole dollar.) Interest revenue Year 2 Year 3 $ 362 $ 550

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