You have just invested a one -time amount of $4,000 in a stock -based mutual fund. This fund should earn (on average) 6% componded annually over a long period of time . How much will your investment be worth in 28 years?

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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You have just invested a one -time amount of $4,000 in a stock -based mutual fund. This fund should earn (on average) 6% componded annually over a long period of time . How much will your investment be worth in 28 years?

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