Question
Karl has been dollar cost averaging in a mutual fund by investing $950 at the beginning of every month for the past 13 years. He
Karl has been dollar cost averaging in a mutual fund by investing $950 at the beginning of every month for the past 13 years. He earns an annual compound return of 9.2% on this investment, compounded monthly. How much is the fund worth today?
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Entrepreneurial Financial Management An Applied Approach
Authors: Jeffrey R Cornwall, David O Vang, Jean M Hartman
5th Edition
0367335417, 978-0367335410
