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28 February, 21:53

Assume that you invest $1250 at the end of each of the next 15 years in a mutual fund. You currently have $10,000 in the mutual fund. The annual rate of interest that you expect to earn in this account is 4.35%. The amount in the account at the end of 15 years is

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  1. 28 February, 22:20
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    The balance in the account at the end of 15 years is $ 24,236.69

    Explanation:

    yr CF DF @ 4.35 Amount

    1 10,000.00 1.8940 18,940.30

    1-15 1,250.00 10.8512 13,563.94

    Total 32,504.24
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