On January 1, 2011, you deposited $4,000 in a savings account.

| November 9, 2018

On January 1, 2011, you deposited $4,000 in a savings account. The account will earn 12 percent annual compound interest, which will be added to the fund balance at the end of each year. (Use Table 3)Required:1.What will be the balance in the savings account at the end of 9 years? (Round “FV Factors” to 4 decimal places and final answer to the nearestwhole dollar amount. Omit the “$” sign in your response.) Balance in the savings account$ 2.What is the amount of interest earned during the 9 years? (Round “FV Factors” to 4 decimal places. Round intermediate calculations and final answers to the nearest whole dollar amount. Omit the “$” sign in your response.) Amount of interest$ 3.How much interest revenue did the fund earn in 2011? 2012? (Round your final answer to the nearestwhole dollar amount. Omit the “$” sign in your response.)20112012 Interest revenue$$

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