Valix Finacc vol 1 Problem 13-9

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 1 Problem 13-9

Annual contribution (2,000,000/5.1051)                                                                       391,765

    Date                                     Interest income          Annual contribution          Fund balance

07/01/2008                                                                               391,765           391,765

07/01/2009                                       39,176                              391,765           822,706

07/01/2010                                       82,271                              391,765        1,296,742

07/01/2011                                     129,674                               391,765        1,818,181

07/01/2012                                     181,819                                    -                         2,000,000