you find a mutual fund that offers approximately 7.5% APR compounded monthly you will invest enough each month to have 2000 at t
he end of the year how much will you have invested at the end of the first year ? asap please
2 answers:
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:
if its on APEX and says 7% APR and $1000 dollars cash the answer is $968.28
Step-by-step explanation:
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