Suppose You Invest $1000 into a Mutual Fund That Is

question 1

Multiple Choice

Suppose you invest $1000 into a mutual fund that is expected to earn a rate of return of 10%.The amount of money will you have in ten years is closest to which of the following? The amount you will have in 50 years is closest to which of the following?

• A)$386;$9
• B)$2594;$45,259
• C)$2594;$117,391
• D)$3138;$ 1,311,892

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Definitions:

Raisins

Dried grapes often used as a snack or cooking and baking ingredient.

Central Office

A telecommunications term referring to a facility where customers' calls are switched by the local central office of a telecommunications provider.

Recordkeeping

The systematic process of maintaining and organizing records or documents relevant to a business, institution, or individual.

Initial Value

The beginning amount or worth of an object, financial asset, or parameter before it undergoes any changes.