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    Future value

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    Thunder Mountain Concrete and Building Materials is trying to bring the company-funded portion of its employee retirement fund into compliance with HB-301. The company has already deposited $200,000 in each of the last 5 years. If the company increases its deposits (beginning in year 6) by 15% per year through year 20, how much will be in the fund immediately after the last deposit, if the fund grows at a rate of 12% per year?

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    https://brainmass.com/economics/finance/finding-future-value-example-problem-344390

    Solution Preview

    See the attached excel file. Thanks

    Thunder Mountain Concrete and Building Materials is trying to bring the company-funded portion of its employee retirement fund into compliance with HB-301. The company has already deposited $200,000 in each of the last 5 years. If the company increases its deposits (beginning in year 6) by 15% per year through year 20, how much will ...

    Solution Summary

    Future value is clearly determined in this solution.

    $2.19