Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 16, 2023

A person invested $10,000 in a mutual fund that has a return of 5% per year. After 10 years, what is the total value of

A person invested $10,000 in a mutual fund that has a return of 5% per year. After 10 years, what is the total value of the investment, assuming that the interest is compounded annually? Show all calculations and round to the nearest cent.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below The formula for compound interest is ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Investments An Introduction

Authors: Herbert B Mayo

9th Edition

324561385, 978-0324561388

More Books

Students also viewed these Banking questions

Question

★★★★★

Focus Drilling Supplies has been growing steadily over the last 20 years. With increased exploration in the mining sector, the company has decided to expand their facilities for supplies and custom...

Answered: 1 week ago

Question

★★★★★

The general manager of the nationalized postal service of a small country, Zedland, wishes to introduce a new service. This service would offer same-day delivery of letters and parcels posted before...

Answered: 1 week ago

Question

★★★★★

Please do the full calculation through the financial calculator formula as per the Australian standards Question 1 (Total marks for this question = 6 marks) Suppose you take out a loan of $10,000,...

Answered: 1 week ago

Question

★★★★★

PacTec Luggage Shop is a small retail establishment located in a large shopping mall. This shop has implemented the following procedures regarding inventory items: a. Since the display area of the...

Answered: 1 week ago

Question

★★★★★

Luis Corporation owns a machine that is fully depreciated but is still being used. How should Luis account for this asset and report it in the financial statements?

Answered: 1 week ago

Question

★★★★★

For the following exercises, use the parametric equations for integers a and b: x(t)=acos((a+b)t) y(t)=acos((a b)t) What happens if b is 1 more than a? Describe the graph.

Answered: 1 week ago

Question

★★★★★

In a large company, there are 500 electronic systems installed. Each of them is either connected to a network (N) or functions as a separate unit (U). Also, some of them have incorporated a new...

Answered: 1 week ago

Question

★★★★★

Refer to Problem 11-19 and model this problem using linear programming. Solve it with any software.

Answered: 1 week ago

Question

★★★★★

In MATLAB, create a 1 2 \ times 8 matrix of random numbers ( use rand ) . Move through the matrix, element by element, and set any value that is less than 0 . 3 to 0 and any value that is greater...

Answered: 1 week ago

Question

★★★★★

PROBLEM 2.60 Two cables tied together at C are loaded as shown. Determine the range of values of P for which both cables remain taut. 300 W 120 lb

Answered: 1 week ago

Question

★★★★★

Look up the daily trading volume for the following stocks during a recent five-day period: Merck Caterpillar Intel McDonalds General Elecetric Randomly select five stocks from the NYSE, and examine...

Answered: 1 week ago

Question

★★★★★

Write a simplified printf subroutine that takes a variable amount of arguments. The first ar- gument for your subroutine is the format string. The rest of the arguments are printed instead of the...

Answered: 1 week ago

Question

★★★★★

1.Provide at least five years of Free Cash Flow Projections for the Company to be used to determine and calculate the intrinsic value of the Company. 2.Calculate the Valuation of the Company using...

Answered: 1 week ago

Question

★★★★★

A man wants to ensure an inflation-adjusted income for 25 years of $100 per monthfor the first year, increasing 5% each year for the next 24 years, but starting in 15 years' time . All the payments...

Answered: 1 week ago

Question

★★★★★

Your company needs to use an equipment for a project. If you decide to purchase it, you need to pay $60,000 today and the maintenance cost is $10,000 every year for three years (the first payment is...

Answered: 1 week ago

Question

★★★★★

i need a three substantive paragraphs. Is your organization unaffected by the global pandemic, or has your organization had to fundamentally re-examine its mission, vision and strategic goals? At the...

Answered: 1 week ago

Question

★★★★★

The Sisyphean Company has a bond outstanding with a face value of $1,000 that reaches maturity in 10 years. The bond has an 8% (annual) coupon rate with semi-annual payments. The required return on...

Answered: 1 week ago

Question

★★★★★

H Corporation has a bond outstanding. It has a coupon rate of 8 percent and a $1000 par value. The bond has 6 years left to maturity but could be called after three years for $1000 plus a call...

Answered: 1 week ago

Question

★★★★★

If you anticipate that the price of a stock will rise, you could (1) buy the stock, (2) buy a call, (3) sell a covered call, or (4) sell a put. All four positions may generate profits if the price of...

Answered: 1 week ago

Question

★★★★★

A closed-end investment company is currently selling for $10 and you purchase 100 shares. During the year, the company distributes $0.75 in dividends. At end of the year, you sell the shares for...

Answered: 1 week ago

Question

★★★★★

Consider the following four investments. a) You invest $3,000 annually in a mutual fund that earns 10 percent annually, and you reinvest all distributions. How much will you have in the account at...

Answered: 1 week ago

Question

★★★★★

1. What are some life values that are important to you (e.g., treat others with respect, work hard to succeed in life)? How did you come to hold those values? Who did you learn them from?

Answered: 1 week ago

Question

★★★★★

1. Easy temperament is defined by a very regular, adaptable, mildly intense style of behavior that is positive and responsive.

Answered: 1 week ago

Question

★★★★★

4.1 Contrast development with change.

Answered: 1 week ago

Previous Question Next Question