Retirement word problem! need help.?
Keith started saving for retirement at age 45 with plans to retire at age 70. He invested an average of $500 per month in various securities, with an average annual return of 6% adjusted for inflation. Assuming monthly compounding, how much has Keith saved at the start of retirement? A. $446,496.98 B. $346,496.98 C. $712,355.15 D. $27,432.26 I tried the formula: FVOA=C(1+i)^nt-1 / i but i must be doing soemthing wrong becuase I cannot get the right answer.
Public Comments
- A446.496.98
