Suppose that you deposit $3500.00 into a mutual fund that will carn a yearly return of 5.50% and leave…

Question:

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Suppose that you deposit $3500.00 into a mutual fund that will carn a yearly return of 5.50% and leave the money there for

30 years.

What would be your mutual fund account balance after the 30th year?

Round your answer to the nearest cent.

Expert Answer:

Answer rating: 100% (QA)

To calculate the mutual fund account balance after 30 years we can u

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