Stephanie Is Going to Contribute $300 on the First of Each

question 18

Multiple Choice

Stephanie is going to contribute $300 on the first of each month,starting today,to her retirement account.Her employer will provide a 50 percent match.In other words,her employer will contribute 50 percent of the amount Stephanie saves.If both Stephanie and her employer continue to do this and she can earn a monthly rate of 0.90 percent,how much will she have in her retirement account 35 years from now?

• A)$1,936,264
• B)$1,943,286
• C)$1,989,312
• D)$2,068,418
• E)$2,123,007