Question: can u help me The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. (Assume end-of-month

can u help me

can u help me The following table shows the average returns for

The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and monthly compounding, and assume that the quoted rate of return continues indefinitely.) Mutual Fidelity Vanguard PIMCO Vanguard Total Bond Fund Growth Company 500 Index Total Return Market Index Rate of Return 14.83% 13.25% 2.77% 2.67% Type Stock fund Stock fund Bond fund Bond fund For the past 25 years you have been depositing $700 per month in the Vanguard bond fund, and you have now transferred your current balance to the PIMCO bond fund, where you plan to continue depositing $700 per month until you retire in 30 years. How much can you anticipate having in the investment when you retire? HINT [See Example 1.] (Round your answer to the nearest cent.) $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!