Justin found a mutual fund that promises a 10.50% rate of return with quarterly compounding. He...
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Justin found a mutual fund that promises a 10.50% rate of return with quarterly compounding. He wants to use it to develop a college fund for his kids. If he wants to have $60,000 in 20 years, how much money will Justin need to deposit today in the account? Justin found a mutual fund that promises a 10.50% rate of return with quarterly compounding. He wants to use it to develop a college fund for his kids. If he wants to have $60,000 in 20 years, how much money will Justin need to deposit today in the account?
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To calculate the amount Justin needs to deposit today in the account we can use the formula for the ... View the full answer
Related Book For
Foundations Of Finance
ISBN: 9780134083285
9th Edition
Authors: Arthur J. Keown, John H. Martin, J. William Petty
Posted Date:
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