Assume That You Contribute $300 Per Month to a Retirement

Multiple Choice

Assume that you contribute $300 per month to a retirement plan for 25 years. Then you are able to increase the contribution to $500 per month for 20 years. Given a 9 percent interest rate, what is the value of your retirement plan after 45 years?

A) $1,743,956.03
B) $1,989,703.51
C) $2,189,194.36
D) $2,355,040.91