Question
9. You received $120 at a birth party when you were 12 years old. Your parents invested the $120 in a mutual fund which averages
9. You received $120 at a birth party when you were 12 years old. Your parents invested the $120 in a mutual fund which averages an 8% annual return. How much will you have at retirement (suppose you are 27 now and will retire in 40 years)?
a. 8,269.663
b. 6,512.812
c. 3,564.147
d. 7,269.962
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International Financial Management
Authors: Cheol Eun, Bruce G. Resnick
8th edition
125971778X, 978-1259717789
