If you invest P5,000 in a mutual fund with a total annual return (interest rate) of 8% and you re-invest the proceeds each year, what will be the value of your investment after five years? a.P3,402.92 b.P6,597.08 c.P7,000.00 d.P7,346.64
If you invest P5,000 in a mutual fund with a total annual return (interest rate) of 8% and you re-invest the proceeds each year, what will be the value of your investment after five years? a.P3,402.92 b.P6,597.08 c.P7,000.00 d.P7,346.64
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter2: Descriptive Statistics
Section: Chapter Questions
Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...
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3. If you invest P5,000 in a mutual fund with a total annual return (interest rate) of 8% and you re-invest the proceeds each year, what will be the value of your investment after five years?
a.P3,402.92
b.P6,597.08
c.P7,000.00
d.P7,346.64
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