Business, 28.08.2021 01:30, Mypasswordishotdog11

On January 15, Year 5, Carr Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, Year 9, at an estimated cost of $2 million. Carr plans to make 4 equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, Year 5. Future value factors are as follows: Future value of 1 at 10% for 5 periods

1.61

Future value of ordinary annuity of 1 at 10% for 4 periods

4.64

Future value of annuity in advance of 1 at 10% for 4 periods

5.11

Carr should make 4 annual deposits (rounded) of
A. $320,000
B. $431,000
C. $391,400
D. $500,000

Answers: 3

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On January 15, Year 5, Carr Corp. adopted a plan to accumulate funds for environmental improvements...