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Wiseman Video plans to make four annual deposits of $4,250 each to a special building fund. The funds assets will be invested in mortgage instruments

Wiseman Video plans to make four annual deposits of $4,250 each to a special building fund. The funds assets will be invested in mortgage instruments expected to pay interest at 12% on the funds balance. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Determine how much will be accumulated in the fund on December 31, 2024, under each of the following situations.

  1. The first $4,250 deposit is made on December 31, 2021, and interest is compounded annually.

  2. The first $4,250 deposit is made on December 31, 2020, and interest is compounded annually.

  3. The first $4,250 deposit is made on December 31, 2020, and interest is compounded quarterly.

  4. The first $4,250 deposit is made on December 31, 2020, interest is compounded annually, and interest earned is withdrawn at the end of each year.

The first $4,250 deposit is made on December 31, 2021, and interest is compounded annually. (Round your final answers to nearest whole dollar amount.)

Table or calculator function: FVA of $1
Deposit: $4,250
n = 4
i = 12%
Fund balance 12/31/2024: $6,687

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