Business, 15.10.2020 08:01 Mordred4987

On January 1, you plan to take a trip around the world upon graduation four years from now. Your grandmother wants to deposit sufficient funds for this trip in an investment account for you. On the basis of a budget, you estimate that the trip currently would cost $15,000. Being the generous and sweet lady she is, your grandmother decided to deposit $3,500 in the fund at the end of each of the next four years, starting on December 31, 2018. The account will earn 6 percent annual interest, which will be added to the account at each year-end. Required:
How much interest revenue did the fund earn in 2015, 2016, 2017, and 2018?

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On January 1, you plan to take a trip around the world upon graduation four years from now. Your gra...

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