On January 1, 2016, you deposited $6,600 in a savings account. The account will earn 10 percent annual compound interest, which will be added to the fund balance at the end of each year.  

Required:
1. What will be the balance in the savings account at the end of 4 years? (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. Round your final answers to 2 decimal places.)



2. What is the total interest for the 4 years? (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. Round your final answers to 2 decimal places.)



3. How much interest revenue did the fund earn in 2016 and in 2017? (Round your final answers to 2 decimal places.)

Answer rating: 100% (QA)

total interest earned and annual interest earned for your savings account Given Initial principal am... View the full answer