Bylo Selhi wants to know how many years it well take for his mutual fund investment of $50,000 to reach $500,000 if his mutual fund pays an average of 12 percent per year.
Answer to relevant QuestionsIra Schwab wins the lottery and decides to take the one lump sum of $500,000 minus taxes. Ira receives a check for $300,000 after taxes. Using the rule of 72, determine a. How long will it take him to get $600,000 if he can ...Compute the effective annual rates for the following: a. 2 percent compounded yearly. b. 2 percent compounded semi-annually. c. 2 percent compounded quarterly. d. 2 percent compounded monthly. e. 2 percent compounded daily ...You deposit $760 in an account one time that compounds monthly at 2 percent. How much will you have in your account at the end of ten years? Mr. Bates is creating a college fund for his daughter. He will put in $850 at the end of each year for the next 15 years. He expects to earn 6.35% annually. How much money will his daughter have in her college fund? Regarding question 7b, if Sam believes he will earn 10 percent on his investment for retirement, how much does he have to contribute to his retirement account at the beginning of each year to accumulate his retirement nest ...
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