Assume That You Contribute $100 Per Month to a Retirement

question 115

Multiple Choice

Assume that you contribute $100 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $200 per month for another 20 years. Given a 6 percent interest rate, what is the value of your retirement plan after 40 years?

• A) $225,353
• B) $19,155
• C) $245,353
• D) $199,359

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