Question
Today, the first day of the month, Fred makes a $500 deposit to his retirement account. He continues to do so on the first of
Today, the first day of the month, Fred makes a $500 deposit to his retirement account. He continues to do so on the first of each month, for thirty years. His employer will match each of his contributions. If he can earn a monthly rate of 0.5%, how much will he have when he retires?
$1,009,538
$1,004,515
$999,517
$715,917
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International financial management
Authors: Jeff Madura
9th Edition
978-0324593495, 324568207, 324568193, 032459349X, 9780324568202, 9780324568196, 978-0324593471
