5 a no load commission free mutual fund has grown at a rate of 11 comp
5. A no-load (commission-free) mutual fund has grown at a rate of 11% compounded annualy since its beginning. If it is anticipated that it will continue to grow at that rate, how much must be invested every year so that $15,000 will be accumulated at the end of five years? 4 Click the icon to view the interest factors for discrete compounding when i= 11% per year. $must be invested every year. (Round to the nearest dollar.)
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