Andy is investing in a 401(k) that promises 5.99% annual growth. He plans on investing $230 each

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Andy is investing in a 401(k) that promises 5.99% annual growth. He plans on investing $230 each month for 27 years (there is no employer matching). Excel calculates an overall account balance of $185,193.31. How much of Andy's balance is interest?

A. $24,959

B. $85,243

C. $11,093

D. $74,520

E. $110,673

Posted Date: Jun 20, 2024 03:05 PM

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Andy is investing in a 401(k) that promises 5.99% annual growth. He plans on investing $230 each

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