Esmeralda wants to purchase a new home. Suppose that she invests $400 per month into a mutual
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Esmeralda wants to purchase a new home. Suppose that she invests $400 per month into a mutual fund. If the per annum rate of return of the mutual fund is assumed to be 6% compounded monthly, how much will Esmeralda have for a down payment after the 36th deposit (3 years)?
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To calculate the future value of Esmeraldas investment in the mutual fund we can us...View the full answer
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