Quinn wants to retire when she is 67 years old. She plans on investing $1,850 each quarter with an average annual return of 3.4% adjusted for inflation. Interest compounds quarterly. If Quinn is 32 years old, how much will she have in savings at the beginning of her retirement?

$120,940.62

$494,187.65

$518,700.36

$711,834.71

Question

Quinn wants to retire when she is 67 years old. She plans on investing $1,850 each quarter with an average annual return of 3.4% adjusted for inflation. Interest compounds quarterly. If Quinn is 32 years old, how much will she have in savings at the beginning of her retirement?

 $120,940.62

 $494,187.65

 $518,700.36

 $711,834.71

anonymous · Answer

A=P(1+r/n)^(t*n) <<<<<  the right formula ?

anonymous · Answer

http://www.wolframalpha.com/input/?i=M%3D1850%281%2B%280.034%29%2F%284%29%29%5E%284*32%29