You recently graduated and received a S5, 000 gift from your parents. Additionally, you secured a job with a monthly paycheck of S4, 000 after deductions. You decide to invest the gift and 10% of your monthly paycheck into an ETF that you expect to grow at a rate of 0.7% per month. What will be the balance of your investment account after 10 years assuming that your paycheck amount remains the same over these 10 years? Group of answer choicesS76, 392S86, 382S92, 133S87, 314
You recently graduated and received a S5, 000 gift from your parents. Additionally, you secured a job with a monthly paycheck of S4, 000 after deductions. You decide to invest the gift and 10% of your monthly paycheck into an ETF that you expect to grow at a rate of 0.7% per month. What will be the balance of your investment account after 10 years assuming that your paycheck amount remains the same over these 10 years? Group of answer choicesS76, 392S86, 382S92, 133S87, 314
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 44P
Related questions
Question
You recently graduated and received a S5, 000 gift from your parents. Additionally, you secured a job with a monthly paycheck of S4, 000 after deductions. You decide to invest the gift and 10% of your monthly paycheck into an ETF that you expect to grow at a rate of 0.7% per month. What will be the balance of your investment account after 10 years assuming that your paycheck amount remains the same over these 10 years?
Group of answer choices
S76, 392
S86, 382
S92, 133
S87, 314
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