Use the Following 8% Interest Factors for Questions -What Will Be the Balance on September 1, 2013 in

question 52

Multiple Choice

Use the following 8% interest factors for questions . $\begin{array}{lll}&\text { Present Value of}&\text {Future Value of }\\&\text {Ordinary Annuity }&\text {Ordinary Annuity }\\\hline 7 \text { periods } & 5.2064 & 8.92280 \\8 \text { periods } & 5.7466 & 10.63663 \\9 \text { periods } & 6.2469 & 12.48756\end{array}$
-What will be the balance on September 1, 2013 in a fund which is accumulated by making $8,000 annual deposits each September 1 beginning in 2006, with the last deposit being made on September 1, 2013? The fund pays interest at 8% compounded annually.

• A)$85,093
• B)$71,383
• C)$60,480
• D)$45,973

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