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Financial planner to begin a voluntary accumulation plan

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Reference no: EM131311857

Pascal has just agreed with his financial planner to begin a voluntary accumulation plan. He will invest $500 at the end of every threemonths in a balanced mutual fund.

a. How much will the plan be worth after 20 years if the mutual fundearns 8% compounded quarterly?

b. If Pascal does not make any more quarterly payments but leavesthe money in the fund for another 30 years, how much will he haveaccumulated at the end of 50 years, assuming the interest rate doesnot change?

Reference no: EM131311857

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