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these are all part of the same question. Please show work. On January 1, you deposited $6,900 in an investment account. The account will earn
these are all part of the same question. Please show work.
On January 1, you deposited $6,900 in an investment account. The account will earn 9 percent annual compound interest, which will be added to the fund balance at the end of each year. (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.) Required: 1. What will be the balance in the account at the end of 10 years? (Round your final answer to the nearest whole dollar amount.) Table or Calulator Function Present Value: n = % Future Value: 2. What is the interest for the 10 years? (Round your final answer to the nearest whole dollar amount.) Interest 3. How much interest revenue did the fund earn in the first year? the second year? (Round your final answer to the nearest whole dollar amount.) Interest Revenue First Year Second YearStep by Step Solution
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