Ahmed just turned 21 and wants to have $12,163 saved in 9 years, by his...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Ahmed just turned 21 and wants to have $12,163 saved in 9 years, by his 30th birthday. Assuming no additional deposits, if he currently has $5,600 in an intermediate-term bond fund earning a 6 percent yield, will he reach his goal? If not, what rate of return is required to meet his goal?.
Assuming no additional deposits, if he currently has $5,600 in an intermediate-term bond fund earning a 6 percent yield, will he reach his goal?(Select the best choice below.)
A. Yes, Ahmed will reach his goal of having $12,163 by his 30th birthday.
B. No, Ahmed will not reach his goal of having $12,163 by his 30th birthday.
The rate of return required to meet his goal is ? %. (Round to the nearest integer.)
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.