2. An investor is setting up a fund which requires 10 years of contributions. The investor pays £150 per month for 10 years. All payments are made in arrears, i.e at the end of the period. The effective annual rate i = 6%. What is the value of the fund after 10 years?

2. An investor is setting up a fund which requires 10 years of contributions. The investor pays £150 per month for 10 years. All payments are made in arrears, i.e at the end of the period. The effective annual rate i = 6%. What is the value of the fund after 10 years?

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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2. An investor is setting up a fund which requires 10 years of contributions. The investor pays £150 per month for 10 years. All payments are made in arrears,
i.e at the end of the period.
The effective annual rate i = 6%.
What is the value of the fund after 10 years?
£ 数字
Enter an answer correct to 2 decimal places.

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