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Assume that your uncle starts an account for you in a mutual fund with an initial deposit of $400 today. He also makes $400
Assume that your uncle starts an account for you in a mutual fund with an initial deposit of $400 today. He also makes $400 deposits at the end of each of year 1 and the end of year 2 (i.e. three deposits in all). After the third deposit, he will make no more contributions. Assuming the fund averages a 6.9% p.a. return, what will the balance in the account be at the end of the 6th year? Record your answer as a dollar amount, rounded to two decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $18,232.36987 as 18232.37.
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