Marigold Corp. deposits $12000 in a fund at the end of each year for 5 years. The fund pays interest of 7% compounded annually. The balance in the fund at the end of 5 years is computed by multiplying O $60000 by 1.35. O $60000 by 1.07. O $12000 by the future value of 1 factor. O $12000 by the future value of an annuity factor.
Marigold Corp. deposits $12000 in a fund at the end of each year for 5 years. The fund pays interest of 7% compounded annually. The balance in the fund at the end of 5 years is computed by multiplying O $60000 by 1.35. O $60000 by 1.07. O $12000 by the future value of 1 factor. O $12000 by the future value of an annuity factor.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 9RE
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![Marigold Corp. deposits $12000 in a fund at the end of each year for 5 years. The fund pays interest of 7% compounded annually.
The balance in the fund at the end of 5 years is computed by multiplying
O $60000 by 1.35.
O $60000 by 1.07.
O $12000 by the future value of 1 factor.
O $12000 by the future value of an annuity factor.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2e52231-be4b-497d-891a-4dab4019ab2b%2F3a502abc-014b-4498-b9a1-0fb098a789df%2Fks4ad9h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Marigold Corp. deposits $12000 in a fund at the end of each year for 5 years. The fund pays interest of 7% compounded annually.
The balance in the fund at the end of 5 years is computed by multiplying
O $60000 by 1.35.
O $60000 by 1.07.
O $12000 by the future value of 1 factor.
O $12000 by the future value of an annuity factor.
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