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

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

Question:

Don't use plagiarized sources. Get Your Custom Assignment on
Suppose that you deposit $3500.00 into a mutual fund that will carn a yearly return of 5.50% and leave…
From as Little as $13/Page

 

Transcribed Image Text:

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
View the full answer