Aidan decides to invest ($ 3,200) annually in a mutual fund. He expects the fund to have
Question:
Aidan decides to invest \(\$ 3,200\) annually in a mutual fund. He expects the fund to have a \(10.8 \%\) interest rate compounded annually. How much will Aidan's mutual fund account have after 15 years?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
; W 14 1 5.66 oints Content X M Question 1 - HW 14 - Connect x + https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.... Saved Help Save...
-
Your mother just received a $250,000 inheritance. If she invests her money in a diversified equity portfolio returning 8 percent per year, approximately how long will it take her to become a...
-
1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...
-
What risks accompany a standby credit letter for (a) the issuer and (b) the beneficiary?
-
Let n data points (x1, y1) , . . . , (xn, Yn) be given. Show that if the points do not all lie on the same vertical line, then they have a unique least squares approximating line.
-
Cypress Creek has a rectangular cross section with a bottom width of 200 ft, n = 0.03, and S0 = 0.001 ft/ft. East Creek has the same characteristics except that the bottom width is 100 ft. The 100-...
-
What is repetitive manufacturing? What are its advantages? What are its limitations? LO,1
-
Siberian Ski Company recently expanded its manufacturing capacity, which will allow it to produce up to 15,000 pairs of cross-country skis of the mountaineering model or the touring model. The sales...
-
Question 2 20 Marks On 1 July 2016, Dunedin Ltd acquired 40% of the shares of Napier Ltd for $125,000. The equity of Napier Ltd at acquisition date consisted of: Share Capital Retained Earnings...
-
How much does Aidan need to invest annually in his mutual fund to reach a goal of \(\$ 1,000,000\) in 40 years. He expects the fund to have a \(10.8 \%\) interest rate compounded annually.
-
Ginny buys 200 shares of stock in UUK company for \(\$ 9.76\) per share. At the end of the year, she sells those stocks for \(\$ 10.02\) per share. 1. How much money did Ginny make? 2. What was her...
-
For Exercises find the coefficients of determination and non determination and explain the meaning of each. r = 0.75
-
Arizona Corp. had the following account balances at 12/1/19: Receivables: $96,000; Inventory: $240,000; Land: $720,000; Building: $600,000; Liabilities: $480,000; Common stock: $120,000; Additional...
-
Construct a 90% confidence interval for the population standard deviation o at Bank A. Bank A 4.2 5.4 5.9 6.1 6.6 7.7 7.7 8.6 9.3 10.0
-
Margin of Error For the poll described in Exercise 1, describe what is meant by the statement that "the margin of error was given as +3.5 percentage points."
-
1) Explain what the critical issue was in the Uber decisions in the First Circuit (Culliane case), and the Second Circuit (Myer case), and how each court, looking at the same facts, came to opposite...
-
IFRS LEASE 1. Kappa Berhad enters into a 10-year lease on 1 January 2020. Kappa Berhad incurred the following costs in respect of the lease: RM2,500 legal fees RM15,000 deposit made at the...
-
The professional development department of a large CPA firm has prepared the following illustration to familiarize the audit staff with the relationships of sample size to population size and...
-
What tools are available to help shoppers compare prices, features, and values and check other shoppers opinions?
-
Docs Auto Body has budgeted the costs of the following repair time and parts activities for 2009: Doc's budgets 6,000 hours of repair time in 2009. A profit margin of $7 per labour hour will be added...
-
QUESTION 28 In a perpetual inventory system, the cost of inventory sold is: Debited to accounts receivable. Debited to cost of goods sold. O Not recorded at the time goods are sold. O Credited to...
-
The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $105,709 69,500 66,800 4,700 246,700 127,eee...
Study smarter with the SolutionInn App