On January 15, 2018, Dolan Corp

question 26

Multiple Choice

On January 15, 2018, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2022, at an estimated cost of £8,000,000. Dolan plans to make four equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, 2018. Future value factors are as follows:

• A) £1,423,236.
• B) £1,565,558.
• C) £1,724,138.
• D) £2,000,000.

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