Multiple Choice
Solve the problem.
-Looking ahead to retirement, you sign up for automatic savings in a fixed-income 401K plan that pays 6.5% per year compounded annually. You plan to invest $2000 at the end of each year for the next 20 years. How much will your account have in it at the end of 20 years? Round to the nearest dollar.
A) $78,949
B) $76,108
C) $79,421
D) $77,651
Correct Answer:
Verified
Correct Answer:
Verified
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