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Wiseman Video plans to make four annual deposits of $6,750 each to a special building fund. The fund's assets will be invested in mortgage
Wiseman Video plans to make four annual deposits of $6,750 each to a special building fund. The fund's assets will be invested in mortgage instruments expected to pay interest at 12% on the fund's 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 after four years, under each of the following situations. 1. The first $6,750 annual deposit is made at the end of each of the four years on December 31, 2021, and interest is compounded annually. 2. The first $6,750 annual deposit is made at the beginning of each of the four years on December 31, 2020, and interest is compounded annually. 3. The first $6,750 annual deposit is made at the beginning of each of the four years on December 31, 2020, and interest is compounded quarterly. 4. The first $6,750 annual deposit is made at the beginning of each of the four years on December 31, 2020, interest is compounded annually, and interest earned is withdrawn at the end of each year. Complete this question by entering your answers in the tabs below. -S Required 1 Required 2 Required 3 Required 4 The first $6,750 deposit is made on December 31, 2020, interest is compounded annually, and interest earned is withdrawn at the end of each year. $ Deposit Amount No. of Payments 6,750 Interest left in Fund Balance 12/31/2024 Fund
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