Question
Use the following 7% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 5.3893 8.65402 8 periods 5.9713 10.25980 9
Use the following 7% interest factors.
| Present Value of Ordinary Annuity | Future Value of Ordinary Annuity | ||
| 7 periods | 5.3893 | 8.65402 | |
| 8 periods | 5.9713 | 10.25980 | |
| 9 periods | 6.5152 | 11.97799 | |
What will be the balance on September 1, 2027 in a fund which is accumulated by making $41000 annual deposits each September 1 beginning in 2020, with the last deposit being made on September 1, 2027? The fund pays interest at 7% compounded annually.
$420652
$244823
$354818
$300700
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Intermediate Accounting
Authors: Earl K. Stice, James D. Stice
19th edition
1133957919, 978-1285632988, 1285632982, 978-0357691229, 978-1133957911
