2. While researching mutual funds on the Internet, Natasha, aged 17, found a fund Wo that averaged a 14.45% annual return for the last 5 years. Assume that Natasha's money can continue to earn this rate of return.

a) What annual investment would Natasha need to make to have $750 000 by the time she turns 60? 

b) What annual investment should she make to have $750 000 by the time she turns 50?  

c) Calculate the total amount invested in each case. 

d) Use a TVM Solver to calculate the number of years it would take Natasha th to save $750 000 if she is able to save $2000 per year.

Answer rating: 100% (QA)

To solve these problems we can use the formula for compound interest 1 AP1r n Where A is the future ... View the full answer