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Find the Final Amount (Rounded to the Nearest Dollar) in This

Question 107

Multiple Choice

Find the final amount (rounded to the nearest dollar) in this retirement account, in which the rate of return on the account and the regular contribution change over time.
-$200 per month invested at 4%4 \% , compounded monthly, for 15 years; then $500\$ 500 per month invested at 7\%, compounded monthly, for 15 years.


A) About $303,647\$ 303,647
B) About $298,701\$ 298,701
C) About $207,699\$ 207,699
D) About $555,352\$ 555,352

Correct Answer:

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