Solved

Currently You Are 25 Years Old and Planning for Retirement

Question 18

Multiple Choice

Currently you are 25 years old and planning for retirement in 30 years. You plan to buy into a mutual fund at $100 per month and expect to obtain a return of 1.25% per month. How much will the mutual fund be worth in 30 years?


A) $692.328
B) $561,453
C) $893,001
D) $1,041,009

Correct Answer:

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