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Savings Calculation At birth a child was given a mutual fund by the child's grandparents. After 65 years, the mutual fund had appreciated in value to $2 million by earning a 13.61% total return. What was the amount of the gift? (select each button below, in order, and see the result displayed in the display box below!) |
| years - amount of time of the investment (one time) |
| period - the amount of time investments are made |
| interest |
| payment (no additional monies were made) |
| future value - ending investment amount |
| present value (Grandparents' investment) |
| Value |
| Feature Button |
| Value
is entered on calculator then feature button is pressed. All values come from the story problem. |
| 65 |
| 1 |
| 13.61 |
| 0 |
| 2,000,000 |
| Answer!: |
