Your uncle starts an account for you in a mutual fund with an initial deposit of 100 today. He also makes 100 deposits at the end of each year 1 and the end of year 2 (three deposits in all). After the third deposit, he will make more contributions. Assuming the fund averages a 9% annual return, what will the balance in the account be at the end of the 6th year.
Your uncle starts an account for you in a mutual fund with an initial deposit of 100 today. He also makes 100
deposits at the end of each year 1 and the end of year 2 (three deposits in all). After the third deposit, he will make more contributions. Assuming the fund averages a 9% annual return, what will the balance in the account be at the end of the 6th year.
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