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:
Answer rating: 57% (14 reviews)
a b 12441 3 5 Year Return 1100 De...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Finance questions
-
A person deposits $1000 at the end of each year into an annuity earning 5% interest compounded annually? How many years are required for the balance to reach $30,539? After how many years will the...
-
The table lists the balances at the end of each year for a 15-year, $50,000 loan with an 8% interest rate. a. Construct a scatterplot using the data points (year, loan balance). b. Write a linear...
-
How much must be deposited at the end of each quarter for nine years to accumulate to $11 000 if interest is 4% compounded quarterly?
-
(1 point) Solve each equation for x: (A) Solve 4(x+4) = 8 for x. X = 1 (B) Solve In x + ln(x 4) = 2 for x. X =
-
For the conditions of Exercise 18, determine the probability that two particular members A and B will serve together on at least one of the three committees.
-
How would you respond to a horizontal analysis that showed an expense increasing by over 80%?
-
Turbo Corporation had net income of \(\$ 30,000\) and other comprehensive income of \(\$ 0\) prior to the following two adjustments: Turbo Corporation discovered it has an unrealized holding loss of...
-
Cost-plus and market-based pricing. Florida Temps, a large labor contractor, supplies contract labor to building-construction companies. For 2012, Florida Temps has budgeted to supply 84,000 hours of...
-
*E7-23 (Petty Cash) Kali Corp. established a petty cash fund early in 2017 to increase the efficiency of accounting for small cash transactions and to improve control over many of the small...
-
Jimmy owns a garden in which he has planted N trees in a row. After a few years, the trees have grown up and now they have different heights. Jimmy pays much attention to the aesthetics of his...
-
Shakee Venture wants to purchase 1,000 shares of an Internet technology stock for $15 a share. She figures that she needs $15,000 plus $90 brokerage commission to purchase or sell the stock. She...
-
Starting in 2012, Ira Roth places $5,000 in a Roth IRA at the beginning of each year for the next 40 years. Ira believes the account will earn 10 percent a year compounded yearly. How much will he...
-
Over the course of a recent six-month period, Google's current ratio increased from 8.77 to 1191 Does this make G000te more or less of a credit risk in the eyes of potential lenders? Why?
-
A. For each of the situations below, draw vectors representing the electric field caused by each charge at the point indicated and use them to determine the direction of the net electric field. In...
-
An entrepreneur's ability to pursue an opportunity and turn the opportunity into a successful venture hinges on the availability of funds. Regardless of the quality of a product or service, a company...
-
Watch. Inc purchased a chocolate factory 3 years ago. Currently, the management wants to start a hotel business, and considers building a hotel on the land where the chocolate factory operates. As a...
-
b. Assume that joint production costs including fixed overhead are allocated to each product on the basis of net realizable value if sold through the cooperative's Retail Sales Division. What is the...
-
Illustration 1. Starting with profit as per cost accounts. From the following data prepare a Reconciliation Statement to find profit as per Financial Accounts: Profit as per Cost Accounts 2,50,000...
-
How many P-channel MOSFETs are in a CMOS INVERTER?
-
Will the prediction interval always be wider than the estimation interval for the same value of the independent variable? Briefly explain.
-
In Problem 4.116, if \(M=100 \mathrm{~kg}, ho=999 \mathrm{~kg} / \mathrm{m}^{3}\), and \(A=0.01 \mathrm{~m}^{2}\), find the jet speed \(V\) required for the cart to be brought to rest after one...
-
What are the three types of comparisons that can be made when conducting ratio analyses?
-
What are the meanings of the terms cash build and cash burn? How do we calculate net cash burn rates?
-
How is the current ratio calculated and what does it measure? How does the quick ratio differ from the current ratio?
-
K Chapter 8 Video_Organizations and Information Systems 5.10 mins As Sue explains in this video, the application approval process needed to be redesigned for all the following reasons EXCEPT A. the...
-
Draw an ER Diagram for this question. Each employee in a company must take at least one training course. An employee could take many training courses. A training course may be taken by many employees...
-
The prices by which the government buys food grain for the maintenance of the public distribution system and to build a buffer stock are known as , A . Minimum Support Price B . Procurement Price C ....
Study smarter with the SolutionInn App