Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I invest $35,000 into a mutual fund. The fund earns an 8.9% annual interest rate (compounded annually, ignoring fees). The index charges a 1.85% expense

I invest $35,000 into a mutual fund. The fund earns an 8.9% annual interest rate (compounded annually, ignoring fees). The index charges a 1.85% expense ratio and a 0.8% front-end load fee. How much money will be in the fund in 9 months, based on this information?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Comparative Public Budgeting

Authors: George M Guess

2nd Edition

1316648109, 978-1316648100

More Books

Students also viewed these Finance questions