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Fischer Company has decided to begin accumulating a fund for plant expansion. The company deposited $20,000 in a fund on January 2, 2012. Fischer will also deposit $60,000 annually at the end of each year, starting in 2012. The fund pays interest at 5% compounded annually. What is the balance of the fund at the end of 2016 (after the 2016 deposit)?
Social
Relating to society or its organization, including interactions and relationships within.
United States Environment Protection Authority
A federal agency tasked with protecting human health and the environment by creating and enforcing regulations based on laws passed by Congress.
Prevention Costs
Expenditures incurred to prevent defects in products or services, including costs related to quality planning, training, and preventive maintenance.
Defects
Imperfections or faults in a product that cause it to deviate from its intended design, reducing its quality and possibly making it unfit for use.
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