Question: Tom has $ 5 0 0 , 0 0 0 to invest and wants to explore various options for maximizing returns. He has asked you

Tom has $500,000 to invest and wants to explore various options for maximizing returns. He has asked you to help him analyze several scenarios:
Future Value with Annual Compounding:
Tom wants to invest $300,000 in a conservative bond fund that offers an annual nominal interest rate of 5%. If the interest compounds annually, how much will Tom have in his account after 7 years?

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