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On January 1 , 2 0 2 0 , Kline Company decided to begin accumulating a fund for asset replacement five years later. The company

On January 1,2020, Kline Company decided to begin accumulating a fund for asset replacement five years later. The company plans to make five annual deposits of $60,000 at 9% each January 1 beginning in 2020. What will be the balance in the fund, on January 1,2025(one year after the last deposit)?
Example of Answer: 4000(No comma, space, decimal point, or $ sign) Round: 2.31=2;2.65=3
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