On January 1, 2009, Jacobs Auto Company decided to accumulate a fund to build an addition to its plant. The company will deposit $320,000 in the fund at each year-end, starting on December 31, 2009.
The fund will earn 9 percent interest, which will be added to balance at each year-end. The accounting period ends December 31.

Required:
1. What will be the balance in the fund immediately after the December 31, 2011, deposit?
2. Complete the following fund accumulationschedule:

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Date Cash Payment Interest Revenue Fund Increase Fund Balance 12/31/2009 12/31/2010 12/31/2011 Total