Question
Tom joins a defined contribution plan. At the end of each month, he and his employer put $800 to his DC account. Suppose the interest
Tom joins a defined contribution plan. At the end of each month, he and his employer put $800 to his DC account. Suppose the interest rate is 5%. How much is his account balance upon his retirement (20 years later)?
Group of answer choices
$317,433.16
$453,563.91
$26,452.76
$328,826.93
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Analysis Of Financial Data
Authors: Gary Koop
1st Edition
0470013214, 978-0470013212
