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On January 1, 2016, you deposited $6,700 in a savings account. The account will eam 9 percent annual compound Interest, which will be added to
On January 1, 2016, you deposited $6,700 in a savings account. The account will eam 9 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 5 years? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answers to 2 decimal places.) in the 2. What is the total interest for the 5 years? (Future Value of $1. Present Value of $1, Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answers to 2 decimal places.) 3. H w much interest revenue did the fund earn in 2016 and in 20177 (Round your final answers to 2 decimal places.) 2016 Interest Revenue 2017 Interest Revenue
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