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##### You have a stock mutual fund in which you put \$3,0...

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You have a stock mutual fund in which you put \$3,000 per year. How much will you accumulate in the account in 25 years if the interest rate is 10 percent? What if they have \$4,000 to deposit in the mutual fund earning 10 percent? If they add \$2,000 to that account annually, how much will they have accumulated in 15 years? (Show all work.) Greg has negotiated a \$20,000 price on a new pick-up truck. The manufacturer is offering a \$1,500 rebate or 3.9 percent, three-year financing. Greg is also able to get 7 percent, three-year financing at his credit union. If Greg plans to finance \$18,000 over three years, should he take the rebate or the 3.9 percent financing? (Show all work.),Hi Rachel, I am not sure about the first answer for question #1 (You have a stock mutual fund in which you put \$3,000 per year. How much will you accumulate in the account in 25 years if the interest rate is 10 percent? The answer that you gave me was \$2,950,413,000.00. That seems kind of high? Am I reading it wrong?

Paper#13626 | Written in 18-Jul-2015

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