To save for college, parents invest $20,000 for their newborn child in a mutual fund that should average 12% annual return. If the semiannually dividends are reinvested, how much will be available in 19 years?
Round your answer to the nearest cent.

Question

To save for college, parents invest $20,000 for their newborn child in a mutual fund that should average 12% annual return. If the semiannually dividends are reinvested, how much will be available in 19 years?
 Round your answer to the nearest cent.

Quizplus · Accepted Answer

The Answer of To save for college, parents invest $20,000 for their newborn child in a mutual fund that should average 12% annual return. If the semiannually dividends are reinvested, how much will be available in 19 years?
 Round your answer to the nearest cent.

To Save for College, Parents Invest $20,000 for Their Newborn