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Business, 27.05.2020 20:07 yokis2710

On January 1, 2020, Bonita Industries decided to begin accumulating a fund for asset replacement five years later. The company plans to make five annual deposits of $69000 at 7% each January 1 beginning in 2020. What will be the balance in the fund, on January 1, 2025 (one year after the last deposit)? The following 7% interest factors may be used. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 4 periods 3.3872 4.4399 5 periods 4.1002 5.75074 6 periods 4.7665 7.15329 $424577 $396801 $369150 $345000

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