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On January 1, 2021, you deposited $5,500 in a savings account. The account will earn 11 percent annual compound interest, which will be added to
On January 1, 2021, you deposited $5,500 in a savings account. The account will earn 11 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 4 years? Evture Value of SJ. Rresent Vatue of S1. Euture Value Annulty ot S1, Present Value Annuity of \$1) Note: Use appropriate factor(s) from the tables provided. 2. What is the total interest for the 4 years? Euture Valusc of S1. Preisnt Value of S1. Euturs Vnluc Annuty or St Present Value: Annulty of 51 ) Note: Use appropriate factor(s) from the tables provided, 3. How much interest revenue did the fund earn in 2021 and in 2022? Complete this question by entering your answers in the tabs below. What will be the balance in the savings account at the end of 4 years? Note: Round your final answer to. 2 decimal places. What is the total interest for the 4 years? Note: Round your intermediate and final answer to 2 decimal places. How much interest revenue did the fund earn in 2021 and in 2022? Note: Round your final answers to 2 decimal places
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