You need $200,000 ten years from now for an education fund. You are advised to deposit $900

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You need $200,000 ten years from now for an education fund. You are advised to deposit $900 in a mutual fund each month for the next ten years to achieve this goal. You currently have $20,000 in the same mutual fund.

What is the annualized rate of return this investment provides?

Related Book For answer-question

Financial Management Principles and Applications

ISBN: 978-0133423822

12th edition

Authors: Sheridan Titman, Arthur Keown, John Martin

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Posted Date: Apr 28, 2023 03:09 AM

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You need $200,000 ten years from now for an education fund. You are advised to deposit $900

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To calculate the annualized rate of return for this investment we can use the future value formula f... View the full answer

Financial Management Principles and Applications

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