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 $
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 $
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...
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![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 $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faee0d9cd-2730-4c97-b186-de60c230706d%2F464d67b2-3d57-4d18-a26f-c54e70af9b44%2F81fv7op_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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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