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Assume that you open a savings account that accrues 1.5% nominal annual interest that is compounded monthly. Initially, your account has no funds in it. Starting next month, you add S100 / month for 6 months. Then, starting in the 7h month, you increase your monthly deposit by $25 each month from the month before for the following 18 months (i.c. month 7 deposit $125). At the end of the second year, what will be the present worth of the money in your account? What will be the future worth of the money in your account?
This project report speaks of the core and future aspects of Mutual Funds and the present challenges to cope with.
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