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On January 1, 2007, Carly Company Decided to Begin Accumulating

Question 16

Multiple Choice

On January 1, 2007, Carly Company decided to begin accumulating a fund for asset replacement five years later. The company plans to make five annual deposits of $50,000 at 9% each January 1 beginning in 2007. What will be the balance in the fund, within $10, on January 1, 2012 (one year after the last deposit) ? The following 9% interest factors may be used
On January 1, 2007, Carly Company decided to begin accumulating a fund for asset replacement five years later. The company plans to make five annual deposits of $50,000 at 9% each January 1 beginning in 2007. What will be the balance in the fund, within $10, on January 1, 2012 (one year after the last deposit) ? The following 9% interest factors may be used A) $326,166 B) $299,235 C) $272,500 D) $250,000


A) $326,166
B) $299,235
C) $272,500
D) $250,000

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