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stiv31 [10]
3 years ago
8

Nancy invested $750 per month in a 401k that earned 6% annual return for 30 years. Alex

Mathematics
1 answer:
xxMikexx [17]3 years ago
5 0

Answer:

  • A and B

Step-by-step explanation:

<u>Nancy's balance:</u>

  • 750*(1 + 0.06)^30 = $4308 <em>rounded to whole number</em>

<u>Alex's balance:</u>

  • 1500*(1 + 0.06)^15 = $3595 <em>rounded to whole number</em>

<u>Options:</u>

A. Nancy's balance would be greater than Alex's in the end.

  • Correct

B. Nancy's balance is $4,308 and Alex's balance is $3,595.

  • Correct

C. Alex's balance would be greater than Nancy's in the end.

  • Incorrect

D. The investment and balance would be the same in the end.

  • Incorrect
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