Question

you find a mutual fund that offers approximately 7.5% APR compounded monthly you will invest enough each month to have 2000 at the end of the year how much will you have invested at the end of the first year ? asap please

Answer 1

Answer:

Assume you will invest fixed amount x at the starting of each month

S(12): (1.00625x)*(1.00625^(12)-1)/(1.00625-1) = 2000

x=160

you will invest fixed amount 160 at the starting of each month and get 2000 at the end of the year ,which compounded 7.5% monthly.

how much will you have invested at the end of the first year ?

160*12=1920

Answer 2

Answer:

if its on APEX and says 7% APR and $1000 dollars cash the answer is $968.28

Step-by-step explanation: