Question: When recommending five different mutual funds for you to consider, your financial planner mentions that the minimum investment averages to about $1200. He further tells
When recommending five different mutual funds for you to consider, your financial planner mentions that the minimum investment averages to about $1200. He further tells you that the minimum investment amounts for the five mutual funds are $500, $2000, $2500, $25 000, and $2000, respectively. However, when you key these numbers into a calculator, you find that the minimum average investment is, in fact, $6400. What accounts for this discrepancy?
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