Exercise B-17 Future value of an amount plus an annuity. Accounting Help?
Exercise B-17 Future value of an amount plus an annuity L.O. P2, P4
Starr Company decides to establish a fund that it will use 10 years from now to replace an aging production facility. The company will make a $100,000 initial contribution to the fund and plans to make quarterly contributions of $50,000 beginning in three months. The fund earns 12%, compounded quarterly. What will be the value of the fund 10 years from now? (Round your Future Value Factor to 4 decimal places and final answer to nearest whole number. Omit the "$" sign in your response.)
VALUE OF THE FUND?? _______
- 10 years agoFavorite Answer
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