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Ken started saving for retirement at age 35 with plans to retire at age 70. He invested an average of $600 per month in various securities, with an average annual return of 5% adjusted for inflation. Assuming monthly compounding, how much has Kent saved at the start of retirement

A: $54,192.18
B: $825,655.45
C: $499,355.18
D: $681,655.46

User Anastasis
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2 Answers

5 votes
The answer is C $499,355.18
User Candido
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6 votes

Answer:

D - $681,655.46

Explanation:

Just took the test and found out the answer. The other person provided the wrong answer and explanation. What a idiot.

User MFH
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