Question: Michael Raby has subscribed to a dollar cost averaging program in which he invests $ 1 0 0 0 at the beginning of each month.

Michael Raby has subscribed to a dollar cost averaging program in which he invests $1000 at the beginning of each month. If his rate of return is 6% compounded monthly, what will be the value of his account 5 years later?(Source: ICB course on Wealth Valuation.)

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