You have found a mutual fund that you would like to invest in that will earn...

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Finance

You have found a mutual fund that you would like to invest inthat will earn 5% annually. If you invest $1000 each year for thenext 10 years, how much will you have at the end of those 10 years,approximately?
$18,753
$10,000
$12,578
$1,628

Answer & Explanation Solved by verified expert

4.4 Ratings (579 Votes)

Solution The formula for calculating the Future value of periodic investments at the end of n years is P 1 r n 1 r Where P Periodic Deposit ie See Answer

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You have found a mutual fund that you would like to invest in that will earn...

60.1K

Verified Solution

Question

Finance

You have found a mutual fund that you would like to invest inthat will earn 5% annually. If you invest $1000 each year for thenext 10 years, how much will you have at the end of those 10 years,approximately?
$18,753
$10,000
$12,578
$1,628

Answer & Explanation Solved by verified expert

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You have found a mutual fund that you would like to invest in that will earn...

60.1K

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Question

Finance

You have found a mutual fund that you would like to invest inthat will earn 5% annually. If you invest $1000 each year for thenext 10 years, how much will you have at the end of those 10 years,approximately?$18,753$10,000$12,578$1,628

Answer & Explanation Solved by verified expert

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Transcribed Image Text

Other questions asked by students

You have found a mutual fund that you would like to invest inthat will earn 5% annually. If you invest $1000 each year for thenext 10 years, how much will you have at the end of those 10 years,approximately?
$18,753
$10,000
$12,578
$1,628