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  3. on january 1, 2021, you deposited $6,100 in a savi

On January 1, 2021, you deposited $6,100 in a savings account. The account will earn...

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Accounting

On January 1, 2021, you deposited $6,100 in a savings account. The account will earn 11 percent annual compound interest, which will be added to the fund balance at the end of each year.

Required:

  1. What will be the balance in the savings account at the end of 5 years? (Future Value of $1,Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.)

Note: Use appropriate factor(s) from the tables provided.

  1. What is the total interest for the 5 years? (Future Value of $1,Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.)

Note: Use appropriate factor(s) from the tables provided.

  1. How much interest revenue did the fund earn in 2021 and in 2022?
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