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Posted on May 19, 2024

You plan to sell mutual fund XYZ after holding it for 2 years. You purchased 1,000 shares at $25 and earned 10% return, compounded monthly.

You plan to sell mutual fund XYZ after holding it for 2 years. You purchased 1,000 shares at $25 and earned 10% return, compounded monthly. The fund is no-load fund.

What is the value of the investment after 2 years?

A. $30,509.77

B. $28,999.43

C. $31,234.55

D. $29,899.58

The answer is A. Could you please provide step-by-step solutions? if it's possible or easier, could you solve it with financial calculator? Thanks!

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