You are planning to contribute $5,000 a year to a mutual fund that earns an average of
Question:
You are planning to contribute $5,000 a year to a mutual fund that earns an average of 6% per year. If you continue to contribute for the next 10 years, how much would you have in your account?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
F 5000...View the full answer
Answered By
Vineet Kumar Yadav
I am a biotech engineer and cleared jee exam 2 times and also i am a math tutor. topper comunity , chegg India, vedantu doubt expert( solving doubt for iit jee student on the online doubt solving app in live chat with student)
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Assume that you are 23 years old and that you place $3,000 year-end deposits each year into a stock index fund that earns an average of 9.5% per year for the next 17 years. 1. How much money will be...
-
Wilbur is a college student who desires to establish a long-term Roth IRA account with $4,000 that his grandmother gifted to him. He intends to invest the money in a mutual fund that earns an...
-
Calvin Jacobs is a widower who recently retired after a long career with a major Midwestern manufacturer. Beginning as a skilled craftsman, he worked his way up to the level of shop supervisor over a...
-
Why is it so easy to develop and then retain racial prejudices? How can we break this mold?
-
A 57-kg packing crate is pulled with constant speed across a rough floor with a rope that is at an angle of 37 above the horizontal. If the tension in the rope is 142 N, how much work is done on the...
-
The production manager of Junnen Corporation has submitted the following forecast of units to be produced for each quarter of the upcoming fiscal year. Each unit requires 0.40 direct labor-hours and...
-
Explain ethnocentrism, cultural relativism, and the ways anthropology has evolved under changing working conditions.
-
Determining the break-even point and preparing a contribution margin income statement Inman Manufacturing Company makes a product that it sells for $60 per unit. The company incurs variable...
-
Using Doubly Linked List, create a Java program that does the following: Create a menu that contains the following options: 1. Add new node to DLL 2. Delete a node from DLL 3. Show how many nodes in...
-
A total of 7000 stampings must be produced in the press department during the next three days. Manually operated presses will be used to complete the job and the cycle time is 27 sec. Each press must...
-
The accompanying diagram shows the anticipated cash dividends for Delta Electronics over the next four years. John is interested in buying some shares of this stock for a total of $100 and will hold...
-
What is the future worth of a series of equal yearly deposits of $5,000 for 7 years in a savings account that earns 5% annual compound interest if (a) All deposits are made at the end of each year?...
-
Sometimes entities write instruments that require settlement in its own shares. Examples of these include purchased or written options to buy or sell shares, or forward contracts to buy or sell...
-
If 6 of 18 new buildings in a city violate the building code, what is the probability that a building inspector, who randomly selects 4 of the new buildings for inspection, will catch (a) none of the...
-
Why do sample surveys have predetermined margins of error?
-
Nan-Clean is a newly developed cleaning liquid for milk bottles that uses special enzymes to remove dirt effectively. Nan-Clean has been positioned as a product that is made of natural ingredients...
-
How does laddering as a technique help in qualitative research?
-
A newly established noodle house has suffered low sales lately. The owner of the noodle house wants to research to collect information that will help him solve the problem at hand and design a...
-
A beam of 12-cm planar microwaves strikes the surface of a dielectric at 45. If n ti = 4/3 compute (a) The wavelength in the transmitting medium. (b) The angle t .
-
What impact has the Internet had on the globalization of small firms? How do you think small companies will use the Internet for business in the future?
-
Patricia French received $500,000 from an insurance company after her husband's death. Patricia wants to deposit this amount in a savings account that earns interest at a rate of 5% compounded...
-
Debbie Weissinger, who owns a travel agency, bought an old house to use as her business office. She found that the ceiling was poorly insulated and that the heat loss could be cut significantly if 6...
-
A new chemical production facility that is under construction is expected to be in full commercial operation one year from now. Once in full operation, the facility will generate $95,000 cash profit...
-
9 1. Compute the indefinite integral. +1 (3+ 4+4) dr.
-
Sarah Jackson Antiques issued its 11%, 10-year bonds payable at a price of $338,220 (face value is $400,000). The company uses the straight-line amortization method for the bond discount or premium....
-
Suppose you start with a full tank of gas (14 gallons) in your truck. After driving 6 hours, you now have 6 gallons left. If x is the number of hours you have been driving, then y is the number of...
Study smarter with the SolutionInn App