Computing Future Values (Supplement C) (P9-13)On January 1, 2011. Austin Auto Company deci...

Computing Future Values (Supplement C) (P9-13)

On January 1, 2011. Austin Auto Company decided to accumulate a fund to build an addition to its plant. The company will deposit $320,000 in the fund at each year-end. starting on December 31, 2011. The fund will earn 9 percent interest, which will be added to the balance at each year-end. The accounting period ends December 31.

Required:

1. What will be the balance in the fund immediately after the December 31, 2013. deposit ?

2. Complete the following fund accumulation schedule: