SOLUTION: Mustafa just turned 22 and wants to have 10,000 saved by his thirtieth bday. Assuming no additional deposits, if he currently has 6,000 in an intermediate term bond fund earning a
Question 229025: Mustafa just turned 22 and wants to have 10,000 saved by his thirtieth bday. Assuming no additional deposits, if he currently has 6,000 in an intermediate term bond fund earning a 5% yield, will he reach his goal? If not what rate of return is required to meet his goal. Answer by stanbon(75887) (Show Source):
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