Carla Vista Company has decided to begin accumulating a fund for plant expansion. The company deposited $93,000 in a fund on January 2, 2018. Carla Vista will also deposit $47,000 annually at the end of each year, starting in 2018. The fund pays interest at 4% compounded annually. Click here to view the factor table. What is the balance of the fund at the end of 2022 (after the 2022 deposit)? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 52.75.) Fund balance $
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- Wiseman Video plans to make four annual deposits of $4,750 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. Determine how much will be accumulated in the fund on December 31, 2024, under each of the following situations.The Weimer Corporation wants to accumulate a sum of money to repay certain debts due on December 31, 2030. Weimer will make annual deposits of $100,000 into a special bank account at the end of each of 10 years beginning December 31, 2021. Assuming that the bank account pays 7% interest compounded annually, what will be the fund balance after the last payment is made on December 31, 2030?On January 1, 2022, Charis Company adopted a plan to accumulate funds for a new building to be erected beginning January 1, 2026 at an estimated cost of P20,000,000. The entity intends to make four equal annual deposits in a fund beginning December 31, 2022 that will earn interest at 12% compounded annually. The future value of an ordinary annuity of 1 at 12% for four periods is 4.78, and the future value of an annuity of 1 in advance at 12% for four periods is 5.35. What is the annual deposit to the fund? A. 5,000,000 B. 4,184,100 C. 3,738,318 D. 3,149,606
- Adams Inc. will deposit $55,100 in a 10% fund at the end of each year for 8 years beginning December 31, 2025. Click here to view factor tables. What amount will be in the fund immediately after the last deposit? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Amount in fund $Morgan Inc. will deposit $53, 700 in a 15% fund at the end of each year for 8 years beginning December 31, 2025. What amount will be in the fund immediately after the last deposit?On January 1, 2020, an entity adopted a plan to accumulate funds for a new building to be erected beginning January 1, 2024 at an estimated cost of P20,000,000. The entity intends to make four equal annual deposits in a fund beginning December 31, 2020 that will earn interest at 12% compounded annually. The future value of an ordinary annuity of 1 at 12% for 4 periods is 4.78, and the future value of an annuity of 1 in advance at 12% for 4 periods is 5.35.What is the annual deposit to the fund? a. 5,000,000 b. 4,184,100 c. 3,738,318 d. 3,149,606
- ony Inc. will deposit $57,400 in a 4% fund at the end of each year for 6 years beginning December 31, 2020. What amount will be in the fund immediately after the last deposit?On January 1, 2020, CDO Corporation created a special building fund by depositing a single sum of P100.000 with an independent trustee. The purpose of the fund is to provide resources to build an addition to the older office building during the latter part of 2024. The company anticipates a total construction cost of P500.000 and completion by January 1, 2025. The company plans to make equal annual deposit from December 31, 2020 through 2024, to accumulate the P500.00O. The independent trustee will increase the fund each December 31 at an interest rate of 10%. The accounting periods of the company and the fund end on December 31. How much is the fund balance as of December 31, 2020? (Round off future value factors to five decimal places)John Goodheart wishes to provide for 6 annual withdrawals of $3,000 each beginning January 1, 2029. He wishes to make 10 annual deposits beginning January 1, 2019, with the last deposit to be made on January 1, 2028. Required: If the fund earns interest compounded annually at 10%, how much is each of the 10 deposits?
- Leon Inc. will deposit $53,700 in a 15% fund at the end of each year for 10 years beginning December 31, 2020. Click here to view factor tables What amount will be in the fund immediately after the last deposit? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, eg. 458,581.) Amount in fund %24On September 1, 2010, you decided to put $15000 in a money market fund. On March 1, 2015, you deposit another $16000 and on Jan 1, 2018, you added another $ 18000. This fund pays interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on January 1, 2019, one year after the third deposit.Santoz borrowed $225,000 on March 1, 2021. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2031. To retire this debt, Santoz plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2026, and for the next 4 years. The fund is expected to earn 10% per annum. Required: How much must be contributed each year by Santoz to provide a fund sufficient to retire the debt on March 1, 2031? Please give your explanation!