Essay
Elliot Industries invests a portion of its profits each year into a benefit emergency health care account for its employees.For the last five years it has invested year-end amounts of $50,000,$43,000,$26,000,$61,000,and $84,000.If the last deposit ($84,000)was made today and the account earns an average of 7.3% per year,how much money is currently in the account,assuming there have been no withdrawals?
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FV = Σ(PV × (1 + r)n)= $50,000 ...View Answer
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