You plan to deposit $5,600 at the end of each of the next 20 years into an account paying 10.8 percent interest. How much will you have in your account if you make deposits for 20 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.., 32.16.) b. How much will you have if you make deposits for 40 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) а. a. Future value of 20 deposits b. Future value of 40 deposits

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Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.