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Edith will retire in 35 years. To that end she contributes $900 per month to her 401 - k account only during the last 20-years. How much would her account hold at retirement if she earned an annual rate of 11.5% monthly compounded? Group of answer choices $1,345,067 1,256, 890.7 989, 431.18 832, 590.95.

Edith will retire in 35 years. To that end she contributes $900 per month to her 401 - k account only during the last 20-years. How much would her account hold at retirement if she earned an annual rate of 11.5% monthly compounded? Group of answer choices $1,345,067 1,256, 890.7 989, 431.18 832, 590.95.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Edith will retire in 35 years. To that end she contributes $900 per month to her 401 - k account only during the last 20-years. How much would her account hold at retirement if she earned an annual rate of 11.5% monthly compounded? Group of answer choices $1,345,067 1,256, 890.7 989, 431.18 832, 590.95.
Transcribed Image Text:Edith will retire in 35 years. To that end she contributes $900 per month to her 401 - k account only during the last 20-years. How much would her account hold at retirement if she earned an annual rate of 11.5% monthly compounded? Group of answer choices $1,345,067 1,256, 890.7 989, 431.18 832, 590.95.
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