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Andy's dream is to own and run a toy shop. He wants to open it up nine years from now, when he can save up
Andy's dream is to own and run a toy shop. He wants to open it up nine years from now, when he can save up enough money to get the inventory. He will set aside the $2,000 he has today in a mutual fund that focuses on high-risk, high-return stocks. Andy needs $6,000 for the opening inventory of the toy shop. If this mutual fund earns an annual return of 12.5% over the 9 years, how much money will be in the account when Andy plans to open
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Step: 1
1 Initial Investment Andy has 2000 that he plans to invest in a mutual fund focusing on highrisk ...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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