Question
1. At 30 years of age you decide to invest $250 a month on the first day of the month in a mutual fund which
1. At 30 years of age you decide to invest $250 a month on the first day of the month in a mutual fund which has a 10 year average return of 9.04%
a.Assume the rate stays constant, what will be an estimate of the amount in the fund when you turn 65(assuming you did not sell any of the shares)?
b. If you make no further deposits or withdrawals after age 65, how much will you have at age 75?
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Core Concepts of Accounting Information Systems
Authors: Mark G. Simkin, Jacob M. Rose, Carolyn S. Norman
12th edition
1118022300, 978-1118022306
