Leonard started a systematic investment program by buying $300.00 worth of mutual funds on the first day of every month starting on June 1. Mutual funds are purchased in units. Leonardpurchased as many units as he could with his $300.00, including fractions of units. Unit prices for the first six months were $10.00, $10.20, $11.50, $9.75, $9.20, and $12.15 respectively. Completeparts (a) through (d) below.(a) What is the simple average of the unit prices?(Round to the nearest cent as needed.)

A mutual fund is a sort of investment vehicle that pools the funds of several investors to buy…

Answered: Leonard started a systematic investment…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Daniel invested $10,000 at time "0" in a mutual fund that guaranteed a return of 5% per year and after 5 years invested $20,000 in another guaranteed fund at 4 ½ % return. After 20 years since the first investment, how much money in total will he have in both funds? $116,984 O $65,239 O $61,000 $67, 215
Lucy won a large sum in the lottery. She invested part of her winnings into a fund earning 7.95% compounded monthly. She has arranged a systematic withdrawal plan that provides for 120 monthly payments increasing at a constant rate of 0.9% per payment. The first payment of $850 is due one month after she set up the fund. How much interest is included in the payments?
Edmonds Community College's (EDCC) scholarship fund received a gift of $325,000. The money is invested in stocks, bonds, and CDs. CDs pay 2.5% interest, bonds pay 2.9% interest, and stocks pay 7.8% simple interest. To spread the risk the College has a policy of having 4 times as much money in CDs as in stocks and bonds combined. If the annual income from the investments is $9,365 , how much was invested in each vehicle? solve by the method of your choice either using reduced row echelon form or the matrix equation EDCC invested $ in stocks ___________________ $ in bonds ___________________ $ in CDs ___________________
Please show detailed steps and correct
At the start of the year, Piotr has an investment fund worth $30,000.00. 4 months later the fund is worth $30,750.00 and Piotr deposits another $3,000.00. 4 months after that, the fund is worth $34,425.00 and Piotr withdraws the $3,000.00 his deposited the time before. At the end of the year the fund is worth $31,425.00. a) What is the Dollar Weighted Return for Piotr's investment? b) What is the Time Weighted Return for the investment fund? c) What would the fund balance at the end of year have to be to make the Time Weighted Return for the year equal the Dollar Weighted Return for the year? d) In this case (TWR = DWR) what was the return on the investment fund in the last time period?
Chris Lavigne invested a total of $10,200 in the AIC Diversified Canada Mutual Fund. The management fee for this particular fund is 2.55 percent of the total investment amount. Calculate the management fee Chris must pay this year. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Management fee $
Bright Inc. will be receiving $5,400 at the end of every month for the next 4 years. If these payments were directly invested into a fund earning 5.50% compounded semi-annually, what would be the future value of the fund at the end of 4 years? Jamie invested $875 at the end of every month in an investment fund that was earning interest at a rate of 4.62% compounded monthly. He stopped making regular deposits at the end of 6 years when the interest rate changed to 6.63% compounded quarterly. However, he let the money grow in this investment fund for the next 4 years. a. Calculate the accumulated balance in his investment fund at the end of 6 years. Round to the nearest cent b. Calculate the accumulated balance in his investment fund at the end of 10 years. Round to the nearest cent c. Calculate the total interest earned over the 10-year period.
Sue has contributed $2,843.00 every three months for the last 11 years into an RRSP fund. The interest eamed by these deposits was 9% compounded quarterly for the first 5 years and 6% compounded quarterly for the last 6 years. How much money is currently in the RRSP? The balance is $ (Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed.).

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