# 6.1 HW 1 - 1. Award: 6.94 out of 33.33

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1. Award: 6.94 out of 33.33 points Wiseman Video plans to make four annual deposits of \$6,500 each to a special building fund. The fund’s assets will be invested in mortgage instruments expected to pay interest at 12% on the fund’s balance. ( FV of \$1,PV of \$1,FVA of \$1,PVA of \$1,FVAD of \$1andPVAD of \$1 )(Use appropriate factor(s) from the tables provided.) Using the appropriate annuity table, determine how much will be accumulated in the fund on December 31, 2019, under each of the following situations. 1.The first deposit is made on December 31, 2016, and interest is compounded annually. \$\$Table or calculator function:FV of \$1 Payment: 6,500 n = 4 i = 12% Fund balance 12/31/2019:10,228 2.The first deposit is made on December 31, 2015, and interest is compounded annually.
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