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The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. ( Assume end - of -
The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. Assume endofmonth deposits and withdrawals and monthly compounding, and
assume that the quoted rate of return continues indefinitely.
For the past years you have been depositing $ per month in the PIMCO bond fund, and you have now transferred your current balance to the Vanguard bond fund, where you plan to continue
depositing $ per month until you retire in years. How much can you anticipate having in the investment when you retire? HINT See Example Round your answer to the nearest cent.
$
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