Question

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

Answer 1

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