Question

Tina's employer matches her $500 per month contribution to her retirement account. If

her retirement account is earning 9.75% per year, compounded monthly, how much will she have in the account in 30 years?

Answer 1

Explanation:

The answer is going to be 1,462.5$. And that's because 9.75% of 500$=48.75$. So we just multiply 48.75 by 30 which signifies 30 years. So the workout gives us the solution; 48.75*30=1,462.5.