she leaves the money in this mutual fund how much will she have 13 years after the inheritance? Round your answer to the nearest cent.
she leaves the money in this mutual fund how much will she have 13 years after the inheritance? Round your answer to the nearest cent.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 6E
Related questions
Question
A woman inherits $30,000 and decides to put it into a savings account
that earns interest compounded monthly at an annual rate of 3%. After 4 years
she decides to move the money in the savings account to a mutual fund that earns
10% compounded daily. If she leaves the money in this mutual fund how much
will she have 13 years after the inheritance? Round your answer to the nearest
cent.
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