You deposit the following at the end of each year into a growth mutual fund that earns
Question:
You deposit the following at the end of each year into a growth mutual fund that earns 11 percent per year.
Year | Deposit |
1 | $4,000 |
2 | 3,500 |
3 | 2,500 |
4 | 2,000 |
5 | 1,700 |
$13,700 |
a. How much should the fund be worth at the end of five years? $17,859.28
b. How much interest will you have earned in total?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: