Pleasant Company Has Decided to Begin Accumulating a Fund for Plant

question 25

Essay

Pleasant Company has decided to begin accumulating a fund for plant expansion.The company deposited $80,000 in a fund on January 2, 2019.Pleasant will also deposit $40,000 annually at the end of each year, starting in 2019.The fund pays interest at 4% compounded annually.What is the balance of the fund at the end of 2023 (after the 2023 deposit)?

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Definitions:

Job Behaviour

Actions or behaviors exhibited by an individual in their workplace or professional role.

Rewards

Benefits, compensation, or other forms of recognition awarded to individuals or groups in response to their performance, behavior, or achievement.

Organization

An entity composed of multiple people, such as an institution or an association, that has a particular purpose.

Suppress Negative Emotions

The deliberate attempt to conceal or inhibit the expression of negative emotions such as anger, frustration, or sadness.