A client has a $5 million portfolio and invests 5% of it in the money market fund projected to earn 3% annually. Estimate the value of this portion of his portfolio after seven years. a. $250,000 b. $307,468.47 c. $370,648.74

Essentials of Business Analytics (MindTap Course List)
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ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
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Chapter11: Linear Optimization Models
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Problem 3P: Blair Rosen. Inc. (BR) is a brokerage firm that specializes in investment portfolios designed to...
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A client has a $5 million portfolio and invests 5% of it in the money market fund projected to earn 3% annually. Estimate the value of this portion of his portfolio after seven years.

a. $250,000

b. $307,468.47

c. $370,648.74

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