Question

Considering the three investment options for saving for retirement, which option had the least amount invested and what was the investment plan associated with it?

A) Option 1: Invest $25/month at 3.25% APR compounded monthly
B) Option 2: Invest $75/quarter at 4.00% APR compounded monthly
C) Option 3: Invest $1,000 at 6.25% APR compounded monthly

Answer 1

Option 1 had the least amount invested, which was $25/month. The investment plan associated with Option 1 is to invest $25 per month at an annual interest rate of 3.25% that is compounded monthly.

Step-by-step explanation:

Option 1 had the least amount invested, which was $25/month. The investment plan associated with Option 1 is to invest $25 per month at an annual interest rate of 3.25% that is compounded monthly.