Question
You currently (at the end of year 0) have $10,000 invested in an investment fund and you plan to add $300 to this fund at
You currently (at the end of year 0) have $10,000 invested in an investment fund and you plan
to add $300 to this fund at the end of every month. The fund is expected to earn an interest rate
of 12% p.a., compounded monthly. At the end of 5 years, the total dollar value in this investment
fund will be closest to?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
13th edition
1439078106, 111197375X, 9781439078105, 9781111973759, 978-1439078099
