Note to the Instructor: Present and Future Value Tables Could

question 109

Essay

Note to the instructor: Present and future value tables could be used for this question, but they are not required for its solution. Meade Company has accumulated cash in a fund to use for future expansion. The following accumulation schedule for the fund was prepared: $$\begin{array} { | l | r | r | r | } \hline \text { Date } & ? &? & ? \\\hline 12 / 31 / 20X 1 & \$ 4,811 & \$ - 0 & \$ 4,811 \\\hline 12 / 31 / 20X 2 & 4,811 & 433 & 10,055 \\\hline 12 / 31 / 20X 3 & 4,811 & 905 & 15,771 \\\hline 12 / 31 / 20X 4 & 4,811 & 1,419 & 22,001 \\\hline\end{array}$$ Required: Refer to the schedule above and respond to the following questions by entering the answers in the blanks to right.
$$\begin{array} { | l | l | } \hline \text { A. What was the fund's goal in dollars? } & \\\hline \text { B. What was the annual contribution to the fund? } & \\\hline \text { C. What interest rate was earned? } & \\\hline \text { D. What amount interest was earned in } & \\\text { 20X1: } & \\ 20X 3 : & \\\hline \text { E. Give the entry on } 12 / 31 / 20 \times 2 \text { : } & \\\hline\end{array}$$

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Definitions:

Sperm

Male reproductive cells or gametes involved in sexual reproduction.

Testes

Testes are the male reproductive glands that produce sperm and the hormone testosterone.

Scrotum

The pouch of skin containing the testicles in male mammals.

Testosterone

A primary male sex hormone crucial for the development of male reproductive tissues, as well as promoting secondary sexual characteristics.