End of each year into an equity fund

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Reference no: EM131020136

Instructions: Round up to two decimal places for answers if any. Negative answers must be input as a negative number, else it w be counted wrong.

Assume you invest $5,300 at the end of each year into an equity fund. The fund is expected to pay 11.4% percent interest annually. How much money will you have in the fund in 20 years? [See the answer (your wealth at the end): this is called the effect of compounding!]

Reference no: EM131020136

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