Help me fast with the question 2 i) 2 monthsii) 7 monthsiii) 1 year2. Determine the future value of each 5-year investment. Assume interest is compounded annually and each investmenthas a 1.5% management fee.a) $2000 in an investment that averages 6.92% growth per year.b) $3500 in a fund that averages 11.04% growth per year.

According to the standard rule, we are Assuming the management fee is charged at the investment…

Answered: 2. Determine the future value of each…

2. Determine the future value of each 5-year investment. Assume interest is compounded annually anc has a 1.5% management fee. a) $2000 in an investment that averages 6.92% growth per year.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Help me fast with the question 2

i) 2 months
ii) 7 months
iii) 1 year
2. Determine the future value of each 5-year investment. Assume interest is compounded annually and each investment
has a 1.5% management fee.
a) $2000 in an investment that averages 6.92% growth per year.
b) $3500 in a fund that averages 11.04% growth per year.

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