Question
At the beginning of each year, you deposit the following into a growth mutual fund that earns 6 percent per year: Year Deposit 1 $
At the beginning of each year, you deposit the following into a growth mutual fund that earns 6 percent per year:
Year Deposit
1 $ 5,000.00
2 7,500.00
3 4,500.00
4 5,500.00
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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Healthcare Finance Modern Financial Analysis For Accelerating Biomedical Innovation
Authors: Andrew W. Lo, Shomesh E. Chaudhuri
1st Edition
0691183821, 978-0691183824
