Use the Following 8% Interest Factors for Questions

question 126

Multiple Choice

Use the following 8% interest factors for questions .
-What will be the balance on September 1, 2021 in a fund which is accumulated by making $20,000 annual deposits each September 1 beginning in 2014, with the last deposit being made on September 1, 2021? The fund pays interest at 8% compounded annually.

• A)$229,751
• B)$178,456
• C)$151,200
• D)$114,932

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Definitions:

Privately Held Corporation

A company whose ownership is private, meaning its stock is not traded on public stock exchanges and is held by a limited group of shareholders.

New York Stock Exchange

A marketplace where securities, including stocks and bonds, are bought and sold.

Closely Held

A business owned by a limited number of shareholders with no public market for its shares.

No-Par Stock

Shares issued without a par value, which means their face value is not fixed in the stock certificate, enabling more flexibility in setting the share prices.