Adam Plans to Invest $1500 Today in a Mutual Fund

question 31

Multiple Choice

Adam plans to invest $1500 today in a mutual fund. If he earns 12 percent interest compounded monthly, to what amount will his investment grow in 20 years? Use a financial calculator to make the calculation.

• A) $17,289
• B) $15,897
• C) $16,339
• D) $12,450
• E) $18,546

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