Question

Please check my math answer.?
You are considering different investment strategies to save for your retirement.

Option 1: You invest $25/ month at a rate of 3.25% APR compounded monthly for 30 years.

Option 2: You invest $75/ quarter at a rate of 4.00% APR compounded monthly for 30 years.

Option 3: You invest $1,000 at a rate of 6.25% APR compounded monthly for 30 years.

Answer 1

Option # Contributions Total Interest Earned Final Balance
1 $25 $14 $800.50
2 $75 $53 $801.50
3 $1,000 $1,215 $820.00