Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 11, 2024

If you invest $21,000 in a mutual fund that has a return of 5 percent interest, compounded daily, how many years later will your investment

If you invest $21,000 in a mutual fund that has a return of 5 percent interest, compounded daily, how many years later will your investment increase to $493,392? 23,044 years 63 years 62 years Error 5 23,047 years

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

Recommended Textbook for

The Option Trader Handbook

Authors: George Jabbour

2nd Edition

0470481617, 978-0470481615

More Books

Students also viewed these Finance questions

Question

★★★★★

Selected transactions completed by Carleton Aeronautic Supply Corporation during the current fiscal year were as follows: Mar. 8. Split the common shares 4 for 1. After the split, 400,000 common...

Answered: 1 week ago

Question

★★★★★

8. Which of the following approaches is most likely to provide only a rough estimate of the value of a rental property? A. Cost approach. B. Income approach. C. Market comparison approach. D. Gross...

Answered: 1 week ago

Question

★★★★★

=+ (a) Show for k 1 that P,[m: @x (m) -8(m) >k] 1/pk+1; hence E ,, [a - 8,]2/p2. (b) Show that E,[G - g] is bounded.

Answered: 1 week ago

Question

★★★★★

Plan A requires a $100,000 investment now. Plan B requires a~ $80,000 investment now and an additional $40,000 investment at a later time. At 8% interest, compute the breakeven point for the timing...

Answered: 1 week ago

Question

★★★★★

Answered: 1 week ago

Question

★★★★★

The following is a list of costs that were incurred in the production and sale of large commercal airplanes: Classify each cost as either a product cost or a period cost. Indicate whether each...

Answered: 1 week ago

Question

★★★★★

If Quality Airline cuts its domestic fares by 20%, A) profit will increase by 20%. B) a profit can only be earned by decreasing the quantity of flights. profits can be maintained either by increasing...

Answered: 1 week ago

Question

★★★★★

You have an opportunity to invest in Australia at an interestrate of 0.070. Moreover, you expect the Australian dollar (A$) toappreciate by 0.020. Your effective return from this investmentis:

Answered: 1 week ago

Question

★★★★★

HR Management at InnovateTech Solutions InnovateTech Solutions is a dynamic and forward-thinking technology company, specialising in software development. It was first established in 2021 and has...

Answered: 1 week ago

Question

★★★★★

Which process requires intricate planning in terms of procurement policies and the manufacturing process? Six Sigma JIT Production TQM Value Analysis

Answered: 1 week ago

Question

★★★★★

The following condensed balance sheet is for the partnership of Ludolf, Sambal, and Urad, who share profits and losses in the ratio of 6:2:2, respectively: Cash Other assets $ 49,000 135,000...

Answered: 1 week ago

Question

★★★★★

A What are the ethical obligations of a speaker in preparing informative presentations? Can you ignore the coachs request and just say what you want to say?

Answered: 1 week ago

Question

★★★★★

3 Does gender play a role in public speaking as well? Would Kotbs message be as well received by her audience if she were a man?

Answered: 1 week ago

Question

★★★★★

Would you find it hard to speak in a purely informative manner on certain subjects? Would you be able to speak, for example, in a nonpersuasive way about your religious beliefs? Your favorite film? A...

Answered: 1 week ago

Previous Question Next Question