An employee is 25 years old and starting a 401k plan. The employee is going to invest $150 each month. The account is expected to earn 5.5% interest, compounded monthly. What is the account balance, rounded to the nearest dollar, after two years
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An employee is 25 years old and starting a 401k plan. The employee is going to invest $150 each month. The account is expected to earn 5.5% interest, compounded monthly. What is the account balance, rounded to the nearest dollar, after two years?
A spreadsheet was used to calculate the correct answer. Your answer may vary slightly depending on the technology used.
$3,976
$3,796
$6,675
$6,765
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