Question: Suppose you start saving for retirement when you are 3 1 years old. You itivest $ 4 , 5 0 0 the trst year and

Suppose you start saving for retirement when you are 31 years old. You itivest $4,500 the trst year and lincrease this ambuht by 4% each year to match inflation for a total of 30 years. The interest rate is 10% per year.
How much will you heve in socount immediately affer making the last deposit at age 60.
A. $1,065,450
B. $61,059
C. $1,551,960
D. $982,312
How much will you have, if the interest rate was onily 4% per year (instead of 10%)?
A. $421,018
B. $437959
C. $129,808
D. $369,764
Suppose you start saving for retirement when you

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