Pascal Has Just Agreed with His Financial Planner to Begin

question 70

Essay

Pascal has just agreed with his financial planner to begin a voluntary accumulation plan. He will invest $500 at the end of every three months in a balanced mutual fund. How much will the plan be worth after 20 years if the mutual fund earns:
a) 8% compounded quarterly? b) 10% compounded quarterly?

---

Definitions:

Constitutional Law

The general limits and powers of a government as interpreted from its written constitution.

Common Law

A legal framework that relies on court rulings and past case decisions instead of laws passed by legislation.

Quasi-Contracts

Quasi-contracts are legal obligations imposed by courts in order to prevent unjust enrichment, even though no actual contract exists.

Implied-In-Law

Refers to obligations and rights that arise from certain acts or situations as recognized by courts, despite no explicit agreement or contract.