Ken started saving for retirement at age 35 with plans to retire at age 70. He invested an average of $600 per month in various securities, with an average annual return of 5% adjusted for inflation. Assuming monthly compounding, how much has Kent saved at the start of retirement
A: $54,192.18
B: $825,655.45
C: $499,355.18
D: $681,655.46
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Ken started saving for retirement at age 35 with plans to retire at age 70. He invested an average of $600 per month in various securities, ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
500 meters and angle of depression of 40 degrees. Determine the submarine depth under water?
Answers (1)
A restaurant cook makes 4 gallons of soup to divide equally into 44 bowls. 1 gallon = 3.785 liters
Answers (1)
The difference of the squares of two positive consecutive even integers is 28. Find the integers. Use the fact that, if x represents an even integer, then x+2 represents the next consecutive even integer.
Answers (1)
At a market, 8 apples cost $4. How much do 9 cost.
Answers (2)
What is 16.35 written as a fraction
Answers (2)
New Questions in Mathematics
Round 45,122 to the nearest thousand
Answers (2)
The function f (x) = - 3x2 + 36x - 119 written in vertex form is f (x) = - 3 (x - 6) 2 - 11. Which statements are true about the graph of f (x) ? Check all that apply. The axis of symmetry is the line x = 6. The vertex of the graph is at (-6, - 11).
Answers (1)
200 cans of food were distributed to 3 charity homes. 2/5 of the cans were given to the first home, 1/3 of the remainder to the second home and the rest to the third home. How many cans did the third home receive?
Answers (1)
A car dealer earns a 4% Commission on all cars sold last month he earned $7,000 in commission he wants to earn $8,000 in commission this month what increase is total sales from last month total sales does he need in order to reach a go for this
Answers (1)
The charge for a bicylce repair was $9.28 for parts, 1/4 hour of labor at $18 per hour, and a $2 shop fee. What was the total cost (c) of the repair?
Answers (1)