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You find a mutual fund that offers approximately 6% APR compounded monthly. How much money will you need to invest as a lump sum in order to have $1000 at the end of the year?​<…

You find a mutual fund that offers approximately 6% APR compounded monthly. How much money will you need to invest as a lump sum in order to have $1000 at the end of the year?​<…
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0 votes
You find a mutual fund that offers approximately 6% APR compounded

monthly. How much money will you need to invest as a lump sum in order to
have $1000 at the end of the year?​

asked
User LavaScornedOven
by
8.1k points

2 Answers

5 votes

Answer:

it is $941.78

Step-by-step explanation:

answered
User Vanomart
by
8.4k points
7 votes

941.78 .............

answered
User Ocrdu
by
8.6k points
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