Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I invest $24,000 into an S&P 500 index fund. The fund perfectly tracks the S&P 500, but it charges a 1.4% front-end load fee. If
I invest $24,000 into an S&P 500 index fund. The fund perfectly tracks the S&P 500, but it charges a 1.4% front-end load fee. If the S&P returns 10.0% compounded annually, how many years will it take for my account to reach $100,000? Round your answer to two decimal points.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started