Salvatore will contribute $500 to a mutual fund at the beginning of each calendar quarter.
a) What will be the value of his mutual fund after 6½ years if the fund earns 7.6% compounded annually?
b) How much of this amount represents investment earnings?

Question

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The Answer of Salvatore will contribute $500 to a mutual fund at the beginning of each calendar quarter.
a) What will be the value of his mutual fund after 6½ years if the fund earns 7.6% compounded annually?
b) How much of this amount represents investment earnings?

Salvatore Will Contribute $500 to a Mutual Fund at the Beginning