Pleasant Company has decided to begin accumulating a fund for plant expansion. The company deposited $80,000 in a fund on January 2, 2010. Pleasant will also deposit $40,000 annually at the end of each year, starting in 2010. The fund pays interest at 4% compounded annually. What is the balance of the fund at the end of 2014 (after the 2014 deposit)?

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The Answer of Pleasant Company has decided to begin accumulating a fund for plant expansion. The company deposited $80,000 in a fund on January 2, 2010. Pleasant will also deposit $40,000 annually at the end of each year, starting in 2010. The fund pays interest at 4% compounded annually. What is the balance of the fund at the end of 2014 (after the 2014 deposit)?

Pleasant Company Has Decided to Begin Accumulating a Fund for Plant