starla has been investing $5,000 quarterly for the past 12 years in a fixed income mutual...
starla has been investing $5,000 quarterly for the past 12 years in a fixed income mutual fund. how much is the fund worth now assuming she has earned 4% compounded quarterly on her investment?
Homework Answers
| Answer: $306,113.04 | ||
| What is required is the FV of the annuity of $5000 per quarter, deposited | ||
| for 12 years, that is 12*4 = 48 quarters, at 4% compounded quarterly. | ||
| FV = 5000*(1.01^48-1)/(0.01) = | $ 306,113.04 | |
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