Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
Personal Finance: Turning Money into Wealth (7th Edition) (Prentice Hall Series in Finance)
7th Edition
ISBN: 9780133856439
Author: Arthur J. Keown
Publisher: PEARSON
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Chapter 3, Problem 15PA
Summary Introduction

To determine:

The amount that is to be needed to invest today to have $2 million at the end of 35 years when invested at 4% interest per annum and the time period that is needed for investment of amount at 14% interest rate to have $2 million.

Introduction:

Mutual Fund refers to the security that provides benefits of investing in a portfolio. It is a share through which one can invest with smaller amount in portfolio of equity shares made up of big companies.

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