ou decide to contribute to a mutual fund that averages 3.6% return per year. If you contribute $600 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 20 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $ Submit Question Question 3
ou decide to contribute to a mutual fund that averages 3.6% return per year. If you contribute $600 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 20 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $ Submit Question Question 3
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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You decide to contribute to a mutual fund that averages 3.6% return per year. If you contribute $600 quarterly.
Round all answers to the nearest cent as needed.
a) How much will be in the account after 20 years? $
b) How much of this money did you deposit? $
c) How much of this money is interest earned? $
Round all answers to the nearest cent as needed.
a) How much will be in the account after 20 years? $
b) How much of this money did you deposit? $
c) How much of this money is interest earned? $
Submit Question Question 3
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