What is the total amount of interest earned on ten deposits

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Reference no: EM131208345

On each December 31, you plan to transfer $3,500 from your checking account into an investment account. The investment account will earn 3 percent annual interest, which will be added to the account balance at each year-end. The first deposit will be made December 31, 2015 (at the end of the period). (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1) (Use appropriate factor(s) from the tables provided.)

1. What is the total amount of interest earned on the 10 deposits? (Round your final answer to the nearest whole dollar amount.)

2. How much interest revenue did the fund earn in 2016? 2017? (Round your final answer to the nearest whole dollar amount.)

Reference no: EM131208345

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