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Jan plans to invest an equal amount of $2,000 in an equity fund every year-end beginning this year. The expected annual return on the fund is 15 percent. She plans to invest for 20 years. How much could she expect to have at the end of 20 years?
  • a)
    $237,620
  • b)
    $176,424
  • c)
    $204,887
  • d)
    $178,424
Correct answer is option 'C'. Can you explain this answer?

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Jan plans to invest an equal amount of $2,000 in an equity fund every year-end beginning this year. The expected annual return on the fund is 15 percent. She plans to invest for 20 years. How much could she expect to have at the end of 20 years?a)$237,620b)$176,424c)$204,887d)$178,424Correct answer is option 'C'. Can you explain this answer?
FV=A(1 r)^n-1/r =2000(1 0.15)^20-1/0.15 =2000(102.443582616) =2,04,887.165232

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Jan plans to invest an equal amount of $2,000 in an equity fund every year-end beginning this year. The expected annual return on the fund is 15 percent. She plans to invest for 20 years. How much could she expect to have at the end of 20 years?a)$237,620b)$176,424c)$204,887d)$178,424Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2023 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Jan plans to invest an equal amount of $2,000 in an equity fund every year-end beginning this year. The expected annual return on the fund is 15 percent. She plans to invest for 20 years. How much could she expect to have at the end of 20 years?a)$237,620b)$176,424c)$204,887d)$178,424Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2023 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Jan plans to invest an equal amount of $2,000 in an equity fund every year-end beginning this year. The expected annual return on the fund is 15 percent. She plans to invest for 20 years. How much could she expect to have at the end of 20 years?a)$237,620b)$176,424c)$204,887d)$178,424Correct answer is option 'C'. Can you explain this answer?.
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