Question: 6.01 Math Question One: Kenneth started saving for retirement at age 40 with plans to retire at age 70. He invested an average of $400

6.01 Math

Question One: Kenneth started saving for retirement at age 40 with plans to retire at age 70. He invested an average of $400 per month in various securities, with an average annual return of 7% adjusted for inflation. Assuming monthly compounding, how much has Kenneth saved at the start of retirement?

$487,988.40

$720,421.84

$37,784.31

$556,559.83

Question Two: Why is it important not to depend entirely on Social Security payments during your retirement years?

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