Mathematics, 30.11.2021 05:30 samueldfhung
Kevin plans to retire in 30 years, and he plans to save up $250,000 for retirement. He has two options
• Plan 1: compounded monthly with an APR of 3.3%
• Plan 2: compounded quarterly with an APR of 3.5%
Compare these two options to see which one is more beneficial for Kevin. When you make the comparison,
you should at least calculate
1. the amount he needs to deposit each time period
2. the total interest accrued
Answers: 3
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Kevin plans to retire in 30 years, and he plans to save up $250,000 for retirement. He has two optio...
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