Asked by Steve
Kenneth started saving for retirement at age 40 with a plan to retire at age 70. He invested an average of $400 per month in various securities, with an average annual return of 7% adjusted for inflation. Assuming monthly compounding, how much has Kenneth saved at the start of retirement?
a- $487,988.40
b- $720,421.84
c- $37,784.31
d- $556,559.83
My answer is A
a- $487,988.40
b- $720,421.84
c- $37,784.31
d- $556,559.83
My answer is A