On January 15, 2012, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2016, at an estimated cost of $6,000,000. Dolan plans to make four equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, 2012. Future value factors are as follows: Future value of 1 at 10% for 5 periods Future value of ordinary annuity of 1 at 10% for 4 periods Future value of annuity due of 1 at 10% for 4 periods Dolan should make four annual deposits of Group of answer choices $1,174,168 $1,077,586. $978,474. $889,522 1.61 4.64 5.11

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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On January 15, 2012, Dolan Corp. adopted a
plan to accumulate funds for environmental
improvements beginning July 1, 2016, at an
estimated cost of $6,000,00Ó. Dolan plans to
make four equal annual deposits in a fund
that will earn interest at 10% compounded
annually. The first deposit was made on July
1, 2012. Future value factors are as follows:
Future value of 1 at 10% for 5
periods
Future value of ordinary annuity of 1 at 10%
for 4 periods
Future value of annuity due of 1 at 10% for 4
periods
Dolan should make four annual deposits of
Group of answer choices
$1,174,168
$1,077,586.
$978,474.
$889,522
1.61
4.64
5.11
Transcribed Image Text:On January 15, 2012, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2016, at an estimated cost of $6,000,00Ó. Dolan plans to make four equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, 2012. Future value factors are as follows: Future value of 1 at 10% for 5 periods Future value of ordinary annuity of 1 at 10% for 4 periods Future value of annuity due of 1 at 10% for 4 periods Dolan should make four annual deposits of Group of answer choices $1,174,168 $1,077,586. $978,474. $889,522 1.61 4.64 5.11
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