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Crane Company has decided to begin accumulating a fund for plant expansion. The company deposited...

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Accounting

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Crane Company has decided to begin accumulating a fund for plant expansion. The company deposited $94,000 in a fund on January 2 , 2018. Crane will also deposit $40,000 annually at the end of each year, starting in 2018 . The fund pays interest at 7% compounded annually. Click here to view the factor table. What is the balance of the fund at the end of 2022 (after the 2022 deposit)? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 52.75.) Fund balance $

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