Use the Following 8% Interest Factors for Questions

question 51

Multiple Choice

Use the following 8% interest factors for questions .
-What will be the balance on September 1, 2018 in a fund which is accumulated by making $8,000 annual deposits each September 1 beginning in 2011, with the last deposit being made on September 1, 2018? The fund pays interest at 8% compounded annually.

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

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