Penny invested $25,000 in a mutual fund when she was 30 years old. The fund earns 8.5% annually. Penny never invested any more money in the fund (and does not plan to ever add more money to it). Assuming everything remains the same, how much will Penny's fund be worth when she reaches age 65?

Answer rating: 100% (QA)

To calculate the future value of Pennys mutual fund when she reaches age 65 we ... View the full answer