Today is January 1.Starting today,Sam is going to contribute $150 on the first of each month to his retirement account.His employer contributes an additional 50% of the amount contributed by Sam.If both Sam and his employer continue to do this and Sam can earn a monthly rate of ½ of 1 percent,how much will he have in his retirement account 35 years from now?
A) $199,45.944.
B) $200,456.74
C) $249,981.21
D) $299,189.16
E) $322,162.61
Correct Answer:
Verified
Q43: The Bad Guys Company is notoriously known
Q44: The McDonald Group purchased a piece of
Q46: Your car dealer is willing to lease
Q49: The Robertson Firm is considering a project
Q51: You borrow $149,000 to buy a house.
Q51: Beatrice invests $2,000 in an account that
Q52: You estimate that you will have $34,500
Q53: Winston Enterprises would like to buy some
Q53: Your insurance agent is trying to sell
Q63: You have been investing $120 a month
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents