Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 29, 2024

An investor invested $5,000 in a mutual fund three years ago. The next year he made no investment, but then the next year (one year

An investor invested $5,000 in a mutual fund three years ago. The next year he made no investment, but then the next year (one year ago) he invested $2,000. If the fund earned 11% each year, how much is the total investment worth today?

a. $9,058 b. $9,641 c. $9,990 d. $10,376

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

International Business Finance

Authors: Michael Connolly

1st Edition

0415701538, 9780415701532

More Books

Students also viewed these Finance questions

Question

★★★★★

In Problem find and simplify the following, assuming h 0 in (C). (A) f(x + h) - f(x) (B) f(x + h) - f(x) (C) f (x) = x(x + 40) fx + h) - f(x)

Answered: 1 week ago

Question

★★★★★

=+2 Geoff ranks the individual customers in the single-store distribution market on the basis of monthly operating profit. The cumulative operating profit of the top 20% of customers is $55680. Ross...

Answered: 1 week ago

Question

★★★★★

Self-Esteem Journal Over the course of a week, keep a journal monitoring your level of self-esteem. Note the times you experience low self-esteem and high self-esteem. What situations make you feel...

Answered: 1 week ago

Question

★★★★★

A parent company is a producer of production equipment, some of which is acquired and used by the parents subsidiary companies. The parent offers a discount to the subsidiaries but still earns a...

Answered: 1 week ago

Question

★★★★★

The Baldwin company currently has the following balances on their balance sheet: Assets $157,430 Common Stock $9,744 Retained earnings $83,845 Suppose next year the Baldwin Company generates $20,000...

Answered: 1 week ago

Question

★★★★★

Return to ton 7 Wade's outstanding stock consists of 28,000 shares of noncumulative 5.20% preferred stock with a $10 par value and also 70,000 shares of common stock with a $1 par value, During its...

Answered: 1 week ago

Question

★★★★★

Despite the three strategies the middle class used when their wages went flat, the middle class eventully started to shrink. What are three reasons why? (the Vicious Cycle) Your reasons will be the...

Answered: 1 week ago

Question

★★★★★

Write 2-3 paragraphs (300 words) We have spent our time together exploring the nuts and bolts of the Human Resources processes and their value to our organizations and to health care leaders. As we...

Answered: 1 week ago

Question

★★★★★

Bongo has a long term contract (it can be regarded as indefinite) that they must fulfil to provide swimsuits for the local swimming team. The swimsuits are "one size fits all". The year can be split...

Answered: 1 week ago

Question

★★★★★

Research another country's elder care system and address beliefs, spiritual issues, and cultural issues that are also factors in the delivery and provision of health care to this population.

Answered: 1 week ago

Question

★★★★★

A Drive - In Restaurant is considering a new marketing idea. At this restaurant, diners have the choice of dining inside or staying in their cars to eat. To serve those dining in their cars, carhops...

Answered: 1 week ago

Question

★★★★★

Which of the potential advantages and disadvantages of group problem solving and decision-making do you think arise most frequently?

Answered: 1 week ago

Question

★★★★★

Are creativity and innovation really that important to all types of businesses?

Answered: 1 week ago

Question

★★★★★

What is the difference between a rule and a norm? Do norms help or hurt groups? Is it ethical to make group members comply with group norms? Can groups stop having norms?

Answered: 1 week ago

Previous Question Next Question