Juan Vinson Is Planning to Buy a House in Five

question 16

Multiple Choice

Juan Vinson is planning to buy a house in five years. He is looking to invest $25,000 today in an index mutual fund that will provide him a return of 12 percent annually. How much will he have at the end of five years? (Round to the nearest dollar.)

• A) $45,000
• B) $28,000
• C) $44,059
• D) $28,530

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