How much must be deposited quarterly in a mutual fund that is expected to earn (11.2 %)

Question:

How much must be deposited quarterly in a mutual fund that is expected to earn $11.2 \%$ interest compounded quarterly if the account is to be worth $\$ 1,000,000$ after 38 years?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Mathematics

ISBN: 9781711470559

1st Edition

Authors: OpenStax

See More Books

Question Posted: May 30, 2024 09:06 AM

See More Questions

Which paragraph containsthe correct placement of APA-style in-text citations? According to Feldman (2021), there are six different perspectives on mental disorders. Psychologists, depending on their...
What is the payback period for the following set of cash flows? Year Cash Flow O -$ 3,900 2,800 2 1.800 2,400 1.200 1.61 years 1.69 years 1.56 years 1.63 years 1.91 years
. YOUR FINAL TASK Make your own "Articles of Partnership". Write it on a sheet of paper. These worksheets are due on YOUR Thoughts (deadline). Please submit it on time In this lesson, I le...
Draw Lewis structures for the AsCl4+ and AsCl6- ions. What type of reaction (acidbase, oxidationreduction, or the like) is the following? 2AsCl5(g) AsCl4AsCl6(s)
Find an orthogonal basis for the subspace x1 21:X1 + X2 + X3 + X4 = 0 x3
Give an example of an in-the-money call and put and an out-of-the-money call and put?
Name some of Inditexs competitors. What is their strategy? 1239
A mixture of acetone and isopropanol containing 50 mol% acetone is to be distilled continuously to produce an overhead product containing 80 mol% acetone and a bottoms containing 25 mol% acetone. If...
3233 On June 10. a $5,000 account receivable from a customer was written off using the allowance method On November 1, the account was collected from the customer. How would the reinstatement of the...
Lorraine purchases stocks for $\$ 5,000$. The stocks paid dividends by reinvesting the dividends in stock. She sold the stock for $\$ 13,750$ after 6 years. What was Lorraine's annual return on...
Henri's employer matches up to $6 \%$ of salary for IRA contributions. Henri's annual income is $\$ 52,500$. If Henri wants to deposit $\$ 3,000$ annually in his IRA, how much in matching funds...
Show that the set of permutations of $n$ symbols $S_{n}$ satisfies the properties of a group. Recall that the four properties of a group are closure, associativity, existence of the identity and...
The English statistician Karl Pearson (1857-1936) introduced a formula for the skewness of a distribution. P = 3 ( x median ) s Pearson's index of skewness Most distributions have an index of...
You are to specify an orifice meter for measuring the flow rate of a $35^{\circ} \mathrm{API}$ distillate $(\mathrm{SG}=0.85$ ) flowing in a $2 \mathrm{in}$. sch 160 pipe at $70^{\circ} \mathrm{F}$....
Let $\theta$ and $\phi$ be the polar coordinates. Introduce the complex numbers $z$ and $\bar{z}$, where $$\begin{equation*} z=e^{i \phi} \tan (\theta / 2) \equiv \xi+i \eta \tag{5.393}...
Suppose the profit $P$ (in dollars) of a certain item is given by $P=1.25 x-850$, where $x$ is the number of items sold. a. Graph this profit relationship. b. Interpret the value of $P$ when...
(a) Draw a simplified ray diagram showing the three principal rays for an object located outside the focal length of a diverging lens. (b) Is the image real or virtual? (c) Is it upright or inverted?...
Mark Williams, CPA, was engaged by Jackson Financial Development Company to audit the financial statements of Apex Construction Company, a small closely held corporation. Williams was told when he...
Let (X. A. p) be a measure space. Show that for any A,B A, we have the equality: (AUB)+(An B) = (A) + (B).
Provide a graph chart or data with sample numbers indicating Valuing Stocks and Bonds?
I just need help with part b. It says that the answer is not complete and some are wrong. So can you kindly fix it for me and give me the full answers as it says the answer is "not complete". Thank...
What is Coke's average ownership percentage in its equity method investments? Goodwill is 7000 Calculate the firm's current ratio (current assets/current liabilities). Calculate the current ratio...

How much must be deposited quarterly in a mutual fund that is expected to earn (11.2 %)

Question:

Step by Step Answer:

Contemporary Mathematics

Students also viewed these Mathematics questions