(Use Calulator or Formula Approach)Suppose you invest $500 in a mutual fund today and $600 in one year. If the fund pays 9% annually, how much will have you in two years? How much will you have in 5 years if you make no further deposits? 15. Suppose you invest $500 in a mutual fund today and $600 in one year. If the fund pays 9%annually, how much will you have in two years? How much will you have in 5 years if you make nofurther deposits?

Suppose you invest $500 in a mutual fund today and $600 in one year. If the fund pays 9% annually, how much will have you in two years? How much will you have in 5 years if you make no further deposits?

Suppose you invest $500 in a mutual fund today and $600 in one year. If the fund pays 9% annually, how much will have you in two years? How much will you have in 5 years if you make no further deposits?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 2P

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(Use Calulator or Formula Approach)

15. Suppose you invest $500 in a mutual fund today and $600 in one year. If the fund pays 9%
annually, how much will you have in two years? How much will you have in 5 years if you make no
further deposits?

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