question 14 (3 points)\nyou want to retire with $2,554,000.00 in your mutual fund account. you will invest…

question 14 (3 points)\nyou want to retire with $2,554,000.00 in your mutual fund account. you will invest for 33 years. the mutual fund reports an average return of 9.41% over the 33 - year - long life of the mutual fund. assuming that this interest rate continues, and is compounded quarterly, how much will you need to pay quarterly into your mutual fund to reach your goal?\nuse this formula:\n$pmt=\frac{fv\times\frac{r}{n}}{(1 + \frac{r}{n})^{nt}-1}$\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer

question 14 (3 points)\nyou want to retire with $2,554,000.00 in your mutual fund account. you will invest for 33 years. the mutual fund reports an average return of 9.41% over the 33 - year - long life of the mutual fund. assuming that this interest rate continues, and is compounded quarterly, how much will you need to pay quarterly into your mutual fund to reach your goal?\nuse this formula:\n$pmt=\frac{fv\times\frac{r}{n}}{(1 + \frac{r}{n})^{nt}-1}$\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer

Answer

Answer:

$1,645.48