A company deposited $12,500 into an investment fund at the beginning of every quarter for 5 years. It then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 4.50% compounded monthly. a. What was the accumulated value of the fund at the end of 5 years ? Round to the nearest cent b. What was the accumulated value of the fund at the end of 10 years ? Round to the nearest cent c. What was the amount of interest earned over the 10-year period?

A company deposited $12,500 into an investment fund at the beginning of every quarter for 5 years. It then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 4.50% compounded monthly. a. What was the accumulated value of the fund at the end of 5 years ? Round to the nearest cent b. What was the accumulated value of the fund at the end of 10 years ? Round to the nearest cent c. What was the amount of interest earned over the 10-year period?

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...

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