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et 8. [-/5 Points] DETAILS WANEFMAC7 3.3.050. MY NOTES The following table shows the average returns for some of the largest mutual funds commonly found

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et 8. [-/5 Points] DETAILS WANEFMAC7 3.3.050. MY NOTES The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and monthly compounding, and assume that the quoted rate of return continues indefinitely.) Mutual Fidelity PIMCO Vanguard Growth Vanguard Total Bond Fund Company 500 Index Total Return Market Index Rate of 14.83% 13.25% 2.67% Return 3.77% Type Stock fund Stock fund Bond fund Bond fund How much should you pay each month into a retirement account invested in the Vanguard bond fund if you wish to retire in 25 years with an investment valued at one million dollars? HINT [See Quick Example 2.] (Round your answer to the nearest dus cent.) $

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