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11. Assume you contribute $500 per month to a retirement plan for 30 years. Then, you...

11. Assume you contribute $500 per month to a retirement plan for 30 years. Then, you are able to increase the contribution to $600 per month for another 15 years. Given a nine (9) percent interest rate (as APR), what is the value of your retirement plan after the 45 years?

Group of answer choices

A. $3,740,279.81

B. $915,371.74

C. $3,190,385.51

D. $4,008,230.74

E. $4,655,6541.55

Solutions

Expert Solution

Calculation is shown below:

Following shows the working

jeff jeffy answered 1 year ago
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