GMG Studios plans to invest $48,000 at the end of each year for the next...
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Accounting
GMG Studios plans to invest $48,000 at the end of each year for the next four years. There are three investment options available.
| Annual Rate | Interest Compounded | Period Invested | |||||
| Option 1 | 6 | % | Annually | 4 | years | ||
| Option 2 | 8 | Annually | 4 | years | |||
| Option 3 | 12 | Annually | 4 | years | |||
Required: Determine the accumulated investment amount by the end of the fourth year for each of the options. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.)
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