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On January 1, 2015, Kline Company Decided to Begin Accumulating

Question 34

Multiple Choice

On January 1, 2015, Kline Company decided to begin accumulating a fund for asset replacement five years later.The company plans to make five annual deposits of $80,000 at 9% each January 1 beginning in 2015.What will be the balance in the fund, within $10, on January 1, 2020 (one year after the last deposit) ? The following 9% interest factors may be used. On January 1, 2015, Kline Company decided to begin accumulating a fund for asset replacement five years later.The company plans to make five annual deposits of $80,000 at 9% each January 1 beginning in 2015.What will be the balance in the fund, within $10, on January 1, 2020 (one year after the last deposit) ? The following 9% interest factors may be used. A) $521,866 B) $478,776 C) $436,000 D) $400,000


A) $521,866
B) $478,776
C) $436,000
D) $400,000

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