## a fund manager has $2,931,200 in an investment fund, and he expects annual returns of 5%. if he consistently achieves his target returns, th

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## Answers ( )

Answer:$ 4,33,717.40Step-by-step explanation:Using the formula : A = P (1 +R/100)^NWhere A is the amount after n yearsP is the principalR% is the rateTherefore:A = 2,931,200 (1.05)^8A = $ 4,33,717.397A ≈ $ 4,33,717.40