Shaun Is Planning to Invest $570 in a Mutual Fund

question 9

Multiple Choice

Shaun is planning to invest $570 in a mutual fund at the end of each of the next eight years. If his opportunity cost rate is 6 percent compounded annually, how much will his investment be worth after the last annuity payment is made? Use a financial calculator to determine the amount.

• A) $5,055
• B) $5,642
• C) $5,868
• D) $6,026
• E) $6,222

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