Betsy Company Estimated That at the End of Seven Years

question 42

Short Answer

Betsy Company estimated that at the end of seven years, it will be necessary to have $90, 000 available in a pension fund.The correct interest rate was 9%.Actuarial information for seven periods at 9% follows:
$\begin{array}{llr} \text { Future amount of 1 } &1.8280\\ \text { Future amount of ordinary annuity of 1} &9.2004\\ \text { Present value of 1 } &0.5470\\ \text { Present value of ordinary annuity of 1 } &5.0330\\\end{array}$
Required:
Compute the amount that the company must deposit at the end of each year in order to have the necessary funds available at the end of the seventh year.

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Definitions:

Ethnic Group

A community or population made up of people who share a common cultural background or descent.

Left Upper Quadrant

A section of the abdomen located on the left side of the body, above the umbilicus and containing part of the stomach, spleen, and pancreas.

Deep Palpation

a method of examining the body by applying pressure with the hands to deeply feel organs or tissues.

Spleen

An organ located under the ribcage and above the stomach in the left upper quadrant of the abdomen, playing a vital role in immune response and blood filtration.