A company deposited $9,000 into an investment fund at the beginning of every quarter for 4 years.

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A company deposited $9,000 into an investment fund at the beginning of every quarter for 4 years. It then stopped making deposits into the fund and allowed the investment to grow for 5more years. The fund was growing at 4.50% compounded monthly.

a. What was the accumulated value of the fund at the end of 4years ?

b. What was the accumulated value of the fund at the end of 9 years ?

c. What was the amount of interest earned over the 9-year period?

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Posted Date: Mar 16, 2022 07:05 AM

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A company deposited $9,000 into an investment fund at the beginning of every quarter for 4 years.

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a future value of annuity due annuity x FVAF 9000 x 1761955 15857595 where i... View the full answer

Intermediate Accounting

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