Question 1) 니01K 12.t where m= 1+7 B(t)=d(m-1 %3D a) Mutual fund is earning an APR of 9%.(r=.09). What monthly deposit d is necded for a balance 'of 2million dollars in 40uears? Show work. b) Assume your mutual fund is eamnina an APR of 107. (r=10). What montnly deposit d is needed for a balance of 2million dollars in 4Ouears? C) Assume your mutual find is earning an APR of 11%(F=.11). What monthly deposit is needed fora balance of 2million dollars in 40uears
Question 1) 니01K 12.t where m= 1+7 B(t)=d(m-1 %3D a) Mutual fund is earning an APR of 9%.(r=.09). What monthly deposit d is necded for a balance 'of 2million dollars in 40uears? Show work. b) Assume your mutual fund is eamnina an APR of 107. (r=10). What montnly deposit d is needed for a balance of 2million dollars in 4Ouears? C) Assume your mutual find is earning an APR of 11%(F=.11). What monthly deposit is needed fora balance of 2million dollars in 40uears
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter2: Descriptive Statistics
Section: Chapter Questions
Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...
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![Question 1)
401K
where m= | +
BCE) =d (),
12.t
m-1
la) Mutual fund is earning an APR of
9%. (r=.09).
What monthly deposit d is needed
for a balance 'of 2million dollars
in 40years? Show work.
b) Assume uour mutual fund is eaning
an APR of 107. (r=10).
What monthly deposit d is needed
for a balance of 2million dollars in
4Ouears?
C) Assume your mutual fund is earning
an APR of 11% (F=.l1).
What monthly deposit is needed for a
balance of 2million dollars in 40uears?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F113b0878-5af8-4998-be4b-de5d66497a2a%2F5c47b455-59f8-4f32-bad9-60ef7599a3ab%2Fqf7ldiw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 1)
401K
where m= | +
BCE) =d (),
12.t
m-1
la) Mutual fund is earning an APR of
9%. (r=.09).
What monthly deposit d is needed
for a balance 'of 2million dollars
in 40years? Show work.
b) Assume uour mutual fund is eaning
an APR of 107. (r=10).
What monthly deposit d is needed
for a balance of 2million dollars in
4Ouears?
C) Assume your mutual fund is earning
an APR of 11% (F=.l1).
What monthly deposit is needed for a
balance of 2million dollars in 40uears?
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