What is the balance of the fund at the end

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Irwin Company has decided to begin accumulating a fund for plant expansion. The company deposited $10,000 in a fund on January 2, 2006. Irwin will also deposit $5,000 annually at the end of each year, starting in 2006. The fund pays interest at 5% compounded annually. What is the balance of the fund at the end of 2010 (after the 2010 deposit)? Show your work.

Reference no: EM13134854

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