Question: You decide to contribute to a mutual fund that averages 4% return per year. If you contribute $350 quarterly. Round all answers to the nearest






You decide to contribute to a mutual fund that averages 4% return per year. If you contribute $350 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 20 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $ Submit Question You decide to contribute to a mutual fund that averages 3% return per year. If you contribute $275 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 20 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $ Submit Question How much would you need to deposit in an account each month in order to have $40,000 in the account in 6 years? Assume the account earns 4.1% interest. Round your answer to the nearest cent as needed. Submit Question How much would you need to deposit in an account each month in order to have $40,000 in the account in 8 years? Assume the account earns 4.9% interest. Round your answer to the nearest cent as needed. Submit Question You deposit $1000 each year into an account earning 3.3% interest. How much will you have in the account in 30 years? Round your answer to the nearest cent as needed. $ Submit Question You deposit $3000 each year into an account earning 7.6% interest. How much will you have in the account in 35 years? Round your answer to the nearest cent as needed. Submit
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
