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On January 1, 2017, Kline Company decided to begin accumulating a fund for asset replacement five years later. The company plans to make five annual
On January 1, 2017, 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 2017. What will be the balance in the fund, on January 1, 2022 (one year after the last deposit)? You may use the tables attached or the following 9% interest factors: A. $233,382 B. $300,000 C. $359,082 D. $274,386
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