A health clinic invests $578,467 in an endowment fund to support its community health program. They expect an annual return of 13.8% over the next 15 years, and the returns are compounded monthly What will be the future value of this investment at the end of 15 years? Round the answer to two decimal places if necessary.
A health clinic invests $578,467 in an endowment fund to support its community health program. They expect an annual return of 13.8% over the next 15 years, and the returns are compounded monthly What will be the future value of this investment at the end of 15 years? Round the answer to two decimal places if necessary.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A health clinic invests $578,467 in an endowment fund to support its community health program. They expect an annual return of 13.8% over the next 15 years, and the returns are
compounded monthly What will be the future value of this investment at the end of 15 years? Round the answer to two decimal places if necessary.
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