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On each December 31 , you plan to transfer $2,000 from your checking account into an investment account. The investment account will earn 4 percent
On each December 31 , you plan to transfer $2,000 from your checking account into an investment account. The investment account will earn 4 percent annual interest, which will be added to the account balance at each year-end, The first deposit will be made December 31, 2021 (at the end of the period). (Future Volue of \$1. Present Volue of \$1. Euture Valuc Annuity of S1, Present Value Annuity of \$1. Financial Calculator) (Use tables, Excel, or a financial calculator.) Required: 1. What will be the balance in the account at the end of the 10th year (i.e. 10 deposits)? 2. What is the total amount of interest earned on the 10 deposits? 3. How much interest revenue did the fund earn in 2022?2023 ? Complete this question by entering your answers in the tabs below. What will be the balance in the account at the end of the 10 th year (1,2,10 deposits)? (Round "future Value to nearest whole dollar amount.)
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