Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Computer Science Posted 07 May 2018 My Price 3.00

minimum rate of return

A new mother wants to establish a college education fund for her newborn child. She wants this fund to be worth $100,000 in 18 years.

 

a. If she invests $75 per month, what is the minimum rate of return she would need to earn on her investment? Assume monthly compounding.

b. Suppose the mother knows of an investment that will guarantee a 12% annual return compounded monthly. What is the minimum amount she should invest each month to achieve her goal?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 07 May 2018 07:05 PM My Price 3.00

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