n = [log(FV/PV)] / [log(1 + r)]
= [log($493,392 / $21,000)] / [log{1 + (0.05/365)}]
= [log(23.4949)] / [log(1.00014)]
= 3.1568 / 0.00014 = 23,046.08 days
No. of Years = No. of days / Days in a year = 23,046.08 / 365 = 63.14 years
So, 2nd option is correct.
If you invest $21,000 in a mutual fund that has a return of 5 percent interest,...
You are going to invest in a stock mutual fund with a front-end load of 5.5 percent and an expense ratio of 1.59 percent. You also can invest in a money market mutual fund with a return of 2.7 percent and an expense ratio of 0.20 percent. If you plan to keep your investment for 2 years, what annual return must the stock mutual fund earn to exceed an investment in the money market fund? What if your investment horizon...
You invest $340 in a mutual fund today that pays 6.40 percent interest annually. How long will it take to double your money?
You invest $150 in a mutual fund today that pays 9 percent interest annually. How long will it take to double your money? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to 0 decimal place, e.g. 545) Number of years
You invest $200 in a mutual fund today that pays 9 percent interest annually. How long will it take to double your money? Round answer to 2 decimal places. You are in desperate need of cash and turn to your uncle, who has offered to lend you some money. You decide to borrow 1,424 and agree to pay back 1,686 in 2 years. What rate of interest is your uncle charging you? Provide answer as 3 decimals. 5.2% would be...
Problem 5.16 You invest $270 in a mutual fund today that pays 9.40 percent interest annually. How long will it take to double your money? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to O decimal place, eg. 545) Number of years
If you invest the $10,000 you receive at graduation in a mutual fund which averages a 12 % annual return, how much will have forty years later?
The NAV of a mutual fund is $10 per share. You invest $100,000 in the fund. The front end load is 2%. The investment return of the fund for the year was 10%. You sell your shares. The redemption fees is 3% and the expense ratio is 4%. What is your return from this mutual fund investment?
6) (2 pts) At the end of 2014 you invested $5000 into a mutual fund. You invested another $3,000 into the mutual fund at the end of 2015. You did not invest any money in 2016 or 2017 and by the end of 2018, the mutual fund investment was worth $11,900. What was the dollar weighted average annual return on your investment? (2 pts) An investment had an average return of 15% and a standard deviation of 20% over the...
You invest $280 in a mutual fund today that pays 9.10 percent interest annually. How long will it take to double your money? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to 0 decimal places.)
16. Number of periods: You invest $150 in a mutual fund today that pays 9 percent interest annually. How long will it take to double your money?