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Ahat [919]
3 years ago
7

Keith started saving for retirement at age 45 with plans to retire at age 70. He invested an average of $500 per month in variou

s securities, with an average annual return of 6% adjusted for inflation. Assuming monthly compounding, how much has Keith saved at the start of retirement? (show work)
A= $27,432.26
B= $446,496.98
C= $346,496.98
D= $712,355.15
Mathematics
1 answer:
saveliy_v [14]3 years ago
8 0
500×((1+0.06÷12)^(12×25)−1)÷(0.06÷12)
=346,496.98
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