Homework answers / question archive / Use the following 9% interest factors

Use the following 9% interest factors

Accounting

Share With

---

Use the following 9% interest factors.

 

 

Present Value of

Ordinary Annuity

 

Future Value of

Ordinary Annuity

 

7 periods

 

5.0330

 

9.20043

 

 

8 periods

 

5.5348

 

11.02847

 

 

9 periods

 

5.9952

 

13.02104

If $18500 is deposited annually starting on January 1, 2020 and it earns 9%, what will the balance be on December 31, 2027?

$222389

$170209

$185527

$204027