Question
1)Ali just graduated from Concordia and started his first job. He could have participated in the company's retirement plan as of his first day on
1)Ali just graduated from Concordia and started his first job. He could have participated in the company's retirement plan as of his first day on the job but believes that retirement is too far away to think about (he is only 23 years old). He therefore decided not to participate in the company offering, even if the company would have matched his $300 monthly contribution. Assuming that Ali were to retire at age 60, how much would have accumulated in his retirement plan if the plan averaged an annual return of 7% interest compounded monthly?
a)$1,329,321
b)$1,628,964
c)$1,325,980
d)$1,257,927
e)$1,422,765
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