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You find a mutual fund that offers approximately 8.5% APR compounded monthly. How much money will you need to invest as a lump sum in order to have $500 at the end of the year? A. $437.84 B. $411.98 C.
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1 vote
You find a mutual fund that offers approximately 8.5% APR compounded

monthly. How much money will you need to invest as a lump sum in order to
have $500 at the end of the year?
A. $437.84
B. $411.98
C. $459.27
D. $491.87

User Uberllama
by
4.8k points

2 Answers

5 votes

Answer D. 459.27:

Explanation:

User Shlomo Zalman Heigh
by
4.2k points
1 vote

Answer:459.27

Explanation:

User Rockbar
by
4.5k points
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