Ask Question
BusinessBusiness
2 June, 00:47

Rodney Cashman has been investing $2,000 quarterly for the past 18 years in an equity mutual fund. How much is the fund worth now assuming he has earned 11.5% compounded quarterly on his investment?

+3
Answers (1)
  1. 2 June, 01:17
    0
    Rodney Cashman's fund is worth $ 465,862.95 after investing for the past 18 years.

    Explanation:

    Given: Number of periods - 18 years * 4 quarters = 72

    Periodic payment - $2,000

    Interest Rate - 11.5%

    Formula: FV of Annuity = p [ (1 + r/m) n-1 / (r/m) ]

    Where:

    P - Periodic Payment

    r - interest rate

    n - number of periods

    m - compounding period

    FV of Annuity = $ 465,862.95
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Rodney Cashman has been investing $2,000 quarterly for the past 18 years in an equity mutual fund. How much is the fund worth now assuming ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
There is no difference between you driving your car on public streets and Ford selling a product that it knows will sometimes explode. True or False? What unmentioned factor might your answer depend on?
Answers (1)
Gator Tires pays a constant annual dividend of $1.21 per share. How much are you willing to pay for one share if you require a rate of return of 9.3 percent
Answers (1)
Starbucks has embraced ethical sourcing policies and purchases only Fair Trade Certified coffee. That means that if the least expensive and highest quality coffee beans were produced by a source that is not Fair Trade Certified, Starbucks would not
Answers (1)
Considering the world economic outlook for the coming year and estimates of sales and earning for the pharmaceutical industry, you expect the rate of return for Lauren Labs common stock to range between - 20 percent and + 40 percent with the
Answers (1)
If two patients need the same resources in the same medical situation, it is justifiable, when resources are scarce, to limit them to patients having insurance and showing an ability to pay for the resources.
Answers (1)
New Questions in Business
Ontario Resources, a natural energy supplier, borrowed $80.8 million cash on November 1, 2021, to fund a geological survey. The loan was made by Quebec Banque under a short-term financing arrangement.
Answers (1)
Where would you go to set up margins on a letter? A. Format Pages B. Page Layout C. View Pages D. Page Preview
Answers (1)
Morgan company does not ring up sales taxes separately on the cash register. total receipts for february amounted to $25,440. if the sales tax rate is 6%, what amount must be remitted to the state for february's sales taxes?
Answers (1)
The Don't Tread on Me Tire Company had retained earnings at December 31, 2015 of $202,000. During 2016, the company had revenues of $402,000 and expenses of $351,000, and the company declared and paid dividends of $11,200.
Answers (1)
Which of the following refers to the acquisition of goods in one country and the selling of them to buyers in another country? a. Cartel b. Joint venture c. Trading company d. Outsourcing
Answers (1)
Home » Business » Rodney Cashman has been investing $2,000 quarterly for the past 18 years in an equity mutual fund. How much is the fund worth now assuming he has earned 11.5% compounded quarterly on his investment?
Sign Up Forgot Password?