Wiseman Video plans to make four annual deposits of $2,750 each to a special building...
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Wiseman Video plans to make four annual deposits of $2,750 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.) Using the appropriate annuity table, determine how much will be accumulated in the fund on December 31, 2021, under each of the following situations. 1.The first deposit is made on December 31, 2018, and interest is compounded annually. 2.The first deposit is made on December 31, 2017, and interest is compounded annually. 3. The first deposit is made on December 31, 2017, and interest is compounded quarterly. 4.The first deposit is made on December 31, 2017, interest is compounded annually, and interest earned is withdrawn at the end of each year.
Required 1 Required 2 Required 3 Required 4 The first deposit is made on December 31, 2018, and interest is compounded annually whole dollar amount.) Table or calculator function: Payment: Fund balance 12/31/2021
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