You plan to sell mutual fund XYZ after holding it for 2 years. You purchased 1,000 shares
Fantastic news! We've Found the answer you've been seeking!
Question:
You plan to sell mutual fund XYZ after holding it for 2 years. You purchased 1,000 shares at $25 and earned 10% return, compounded monthly. The fund is no-load fund.
What is the value of the investment after 2 years?
A. $30,509.77
B. $28,999.43
C. $31,234.55
D. $29,899.58
The answer is A. Could you please provide step-by-step solutions? if it's possible or easier, could you solve it with financial calculator? Thanks!
Posted Date: