Business, 18.04.2020 00:04, jeffffffff
On January 1, you plan to take a trip around the world upon graduation four years from now. Your grandmother wants to deposit sufficient funds for this trip is an investment account for you. On the basis of a budget, you estimate that the trip currently would cost $15,000. Being the generous and sweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of the next four years, starting on December 31, 2018. The account will earn a 6 percent annual interest, which will be added to the account at each year-end. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1) (Use appropriate factor(s) from the tables provided.) How much interest revenue did the fund earns in 2018, 2019, 2020, and 2021?
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On January 1, you plan to take a trip around the world upon graduation four years from now. Your gra...
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