You have owned a certain mutual fund for the last five years. During the first year it grew 6%, during the second year it grew 1.5%, during the third year is grew 2.75%, during the fourth year it grew 5% and last year it lost 2%. Currently the mutual fund has a value of $14219.33. What was your original amount you invested in this account (five years ago)? Show your work if you want partial credit. Hint BE CAREFUL I HAVE GIVEN YOU THE FINAL ANSWER AND WANT

You have owned a certain mutual fund for the last five years. During the first year it grew 6%, during the second year it grew 1.5%, during the third year is grew 2.75%, during the fourth year it grew 5% and last year it lost 2%. Currently the mutual fund has a value of $14219.33. What was your original amount you invested in this account (five years ago)? Show your work if you want partial credit. Hint BE CAREFUL I HAVE GIVEN YOU THE FINAL ANSWER AND WANT

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Related questions

Q: You have an opportunity to invest in a fund that has a yearly interest rate of 6%. How much should…

A: From the given information, it is observed that FV = $15,000, r = 6%, that is, r =0.06 and t = 3.…

Q: Find what simple interest rate will be necessary for Sonny to get a 40% return on a $500 investment…

Q: 4. Rayanna's father plans to give her monthly payments for the next 4 years as she attends…

A: To find the monthly payment of Rayanna.

Q: Suppose that you invested in a mutual fund that guaranteed 6.5% annual interest, compounded monthly.…

A: given p=principle=$3500r=rate per annum=6.5%n=4 =time we have find A…

Q: fter reading this chapter, it isn't surprising that you're becoming an investment wizard. With your…

Q: You just found out that you have $19,919.83 in a savings account. Your aunt opened the account in…

Q: You are going to invest some money in a CD. You will invest $500 one time (you won’t add any more…

A: formula

Q: A $500 bond matures in 25 years. What should you be willing to pay for the bond now if you want an…

A: To calculate the present amount of bond that is willing to pay if amount of bond is $500, the time…

Q: find what simple interest rate will be necessary for sonny to get a 50% return on a $500 investment…

Q: An investment of $8,000 is made at time 0 with returns of $3,500 at the end of each of years 1…

A: Given problem is : An investment of $8,000 is made at time 0 with returns of $3,500 at the end of…

Q: Mary invested $500 in the beginning of year 2008 in an account earning 3.8% annual compound…

Q: Deer construction just purchased a new track hoe attachments costing 12500 dollars. The CFO John…

Q: Carl placed $900 in a brokerage account that has been increasing its value by 16% per year. At the…

Q: When a child is born, her grandfather decides to put $100 in an account that earns interest. He…

A: Solution:-

Q: A bond with face value $10,000 simple interest 6.45% and a term for 12 years is originally bought by…

A: Solution: Assuming Linda bought the bond on settlement date. Net profit for Linda = 11,400 + 645 +…

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: You have $10,000 that you are considering whether to invest . If you invest it in an account that…

A: We can make it easier for you

Q: You are considering making a movie. The movie is expected to cost $10.7 million upfront and take a…

A: Find the NPV using Excel:Thus, the net present value is:NPV millionSince the NPV is -$2.28…

Q: You bought a bond with 8% coupon rate, 10 year maturity, and $1000 par value for $1,039 one year…

A: We have coupon rate =8% Coupon Amount = face value×coupon rate=$1000×0.08=$80 Total return = (Income…

Q: A new investment opportunity for you is an annuity that pays $850 at the beginning of each year for…

A: Give information Amount A=$850 Time t=3 years Rate of interest r=5.5% ⇒r=5.5100=0.055 Formula used :…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

A gold mine is expected to yield an annual income of $90000 for the next 24 years, after which it will be sold for $6300. An investor wants an annual return on his investment of 12%. If he can establish a sinking fund earning an annual interest rate of 6%, how much should he pay for the mine? Answer = $
Consider the pair of savings plans below. Compare the balances in each plan after 13 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Assume that the compounding and payment periods are the same for each pair. George deposits $60 per month in an account with an APR of 5%, while Harvey deposits $190 per quarter in an account with an APR of 5.5%. The balance in George's account is how much money?(Round to nearest tenth if needed) The balance in Harvey's account is how much money?(Round to nearest tenth if needed) How much did George deposit? How much did Harvey deposit?
You want to go on a world holiday in 10 years time. You work out you need $80,000 for your holiday. So you start saving every month at the end of the month and you get 5% per year compound monthly interest. For the first 5 years you save $800 a month but things go wrong after 5 years and you can only save $200 a month. After 10 years has he saved enough money or does he need to get more money?
You have $10,000 you want to invest. Your bank has several investment accounts tochoose from, all compounding daily. Your goal is to have $15,000 in 6 years. To thenearest hundredth of a percent, what is the minimum annual interest rate the account must have so you can reach your goal?
Mutual Fund X owns 0.5% of the total stock of Company Y. In one particular year, Company Y announces annual profits of $12,000,000, and decides to pay dividends to its shareholders at a rate of 15% of its annual profits. How much will Mutual Fund X receive in the form of dividends from Company Y? Give your answer in dollars.
An employee invests £1000 at the end of each month into her Pension Fund (b) for 30 years. What is the value of her Pension Fund if it grows at an annual rate of 6% (0.5% per month) at the end of the 30 years.
Leo Lucky, owner of a Pizza Hut franchise, bought a delivery truck for $30,000. The truck has an estimated life of 5 years with a residual value of $10,000. Leo wants to know which depreciation method will be the best for his truck. He asks you to prepare a depreciation schedule using the declining-balance method at twice the straight-line rate.