Salvatore will contribute $650 to a mutual fund at the beginning of each calendar quarter. a.What...
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Salvatore will contribute $650 to a mutual fund at the beginning of each calendar quarter. a.What will be the value of his mutual fund after 8 years if the fund earns 8.1% compounded annually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Mutual fund b.How much of this amount represents investment earnings? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Earnings Salvatore will contribute $650 to a mutual fund at the beginning of each calendar quarter. a.What will be the value of his mutual fund after 8 years if the fund earns 8.1% compounded annually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Mutual fund b.How much of this amount represents investment earnings? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Earnings
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a quarter contribution650 annual contribution650 x 42700 interest rate81 compounded annu... View the full answer
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Posted Date:
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