Question
At the beginning of each year, you deposit the following into a growth mutual fund that earns 6 percent per year: Year Deposit Year 1
At the beginning of each year, you deposit the following into a growth mutual fund that earns 6 percent per year:
Year Deposit Year 1 $5,000.00
Year 2 $7,500.00
Year 3 $4,500.00
Year 4 $5,500.00
Year 5 $6,200.00
Total $28,700.00
How much should the fund be worth at the end of 5 years?
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Innovation And Technology
Authors: Nikos Vernardakis
1st Edition
0415676800, 978-0415676809
