Question
If $1000 is deposited at the end of each year for 5 years into an ordinary annuity earning 8.16% compounded annually, construct a balance sheet
If $1000 is deposited at the end of each year for 5 years into an ordinary annuity earning 8.16% compounded annually, construct a balance sheet showing the interest earned during each year and the balance at the end of each year.
Complete the balance sheet.
| Period | Amount | Interest | Balance |
|---|---|---|---|
| 1 | $1000.00 | $00 | $10001000 |
| 2 | $1000.00 | $81.60 | $enter your response here |
| 3 | $1000.00 | $enter your response here | $enter your response here |
| 4 | $1000.00 | $enter your response here | $enter your response here |
| 5 | $1000.00 | $enter your response here | $enter your response here |
(Round to the nearest cent as needed.)
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Business Analytics Data Analysis and Decision Making
Authors: S. Christian Albright, Wayne L. Winston
5th edition
1133629601, 9781285965529 , 978-1133629603
