Salvatore will contribute $530 to a mutual fund at the beginning of each calendar quarter. a. What will be the value of his mutual fund after 7 1/2 years if the fund earns 7.9% compounded annually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Value of mutual fund $b. Training How much of this amount represents investment earnings? ( Do not round intermediate calculations and round your final answer to 2 decimal places.) Investment earnings
Salvatore will contribute $530 to a mutual fund at the beginning of each calendar quarter. a. What will be the value of his mutual fund after 7 1/2 years if the fund earns 7.9% compounded annually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Value of mutual fund $b. Training How much of this amount represents investment earnings? ( Do not round intermediate calculations and round your final answer to 2 decimal places.) Investment earnings
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 22P
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Salvatore will contribute $530 to a mutual fund at the beginning of each calendar quarter. a. What will be the value of his mutual fund after 7 1/2 years if the fund earns 7.9% compounded annually? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Value of mutual fund $b.
Training
How much of this amount represents investment earnings? (
Do not round intermediate calculations and round your final answer to 2 decimal places.) Investment earnings $
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