Terrance invested $1,500 in a mutual fund on January 1, 2010. He has brought you all of the annual statements he has received from the fund company, and asked for your help in analyzing the results. The statement shows the following returns: 2010 8% 2013 -7% 2011 2% 2014 3% 2012 -5% 2015 22% Calculate the terminal value of Terrance' investment.
Terrance invested $1,500 in a mutual fund on January 1, 2010. He has brought you all of the annual statements he has received from the fund company, and asked for your help in analyzing the results. The statement shows the following returns: 2010 8% 2013 -7% 2011 2% 2014 3% 2012 -5% 2015 22% Calculate the terminal value of Terrance' investment.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
| Terrance invested $1,500 in a mutual fund on January 1, 2010. He has brought you all of the annual statements he has received from the fund company, and asked for your help in analyzing the results. The statement shows the following returns: | |||||||
| 2010 | 8% | 2013 | -7% | ||||
| 2011 | 2% | 2014 | 3% | ||||
| 2012 | -5% | 2015 | 22% |
Calculate the terminal value of Terrance' investment.
Question 11 options:
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$1,834 |
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$1,806 |
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$1,880 |
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Insufficient information is provided |
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