You are hired as an investment advisor by Tom Smith. Tom is planning to retire in...

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You are hired as an investment advisor by Tom Smith. Tom is planning to retire in 25 years and would like to have 2 million dollars at the time of retirement. He is planning to contribute monthly to a fund based on your recommendation. He also mentions that he inherited $100,000 from his uncle. You believe that given Tom's goals and risk tolerance, the best fund for him to invest is the Global Diversified Bond (GDB) fund, which has a guaranteed fixed annual return of 7%. Round your answer to two decimals. How much should Tom invest each month to reach his goal if : 1. (5 points) Tom invests the entire $100,000 he inherited in the GDB fund right away in addition to his monthly contribution. 2. (5 points) Tom decides to donate his inheritance to a charity instead of investing it in the GDB fund. You are hired as an investment advisor by Tom Smith. Tom is planning to retire in 25 years and would like to have 2 million dollars at the time of retirement. He is planning to contribute monthly to a fund based on your recommendation. He also mentions that he inherited $100,000 from his uncle. You believe that given Tom's goals and risk tolerance, the best fund for him to invest is the Global Diversified Bond (GDB) fund, which has a guaranteed fixed annual return of 7%. Round your answer to two decimals. How much should Tom invest each month to reach his goal if : 1. (5 points) Tom invests the entire $100,000 he inherited in the GDB fund right away in addition to his monthly contribution. 2. (5 points) Tom decides to donate his inheritance to a charity instead of investing it in the GDB fund.

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Annual Interest Rate 700 Monthly Interest Rate 700 12 Monthly In... View the full answer