Plan to deposit the funds in a mutual fund

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Reference no: EM13980719

You want to go to Europe 5 years from now, and you can save $8,700 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 8.5% per year. Under these conditions, how much would you have just after you make the 5th deposit, 5 years from now? $56,190.31 $63,922.92 $40,209.58 $41,756.10 $51,550.74

Reference no: EM13980719

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