Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You invested $10,000 in a variable return fund. The fund which is ties to NYSE had returns of 3.19%, 4.32% and 15.7% in the first

You invested $10,000 in a variable return fund. The fund which is ties to NYSE had returns of 3.19%, 4.32% and 15.7% in the first three years. If you investment was untouched, what' would be the balance after year three? Answer to 2 decimal places.

Step by Step Solution

3.32 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

Sure we will be using the formula for compound interest which is A P1 rnnt where A the amount ... 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

Corporate Finance A Focused Approach

Authors: Michael C. Ehrhardt, Eugene F. Brigham

6th edition

1305637100, 978-1305637108

More Books

Students also viewed these Finance questions