Your Lifetime Financial Goal Is to Have $1,250,000 Invested in a Mutual

Multiple Choice

Your lifetime financial goal is to have $1,250,000 invested in a mutual fund when you retire in 40 years. You plan to invest $1,000 in a mutual fund now, and then invest an additional $200 per quarter for 40 years. What average return must the fund provide to meet your investment goal?

A) 8.34%
B) 10.44%
C) 12.13%
D) 13.16%