1. So, if you invest $200 per month (at age 25), that earns 20% compounded monthly, you would have invested a total of $48,000 by age 45. At 45, when you retire, you would have how much?
a. $621,930
b. $48,000
c. $481,487
d. $1,454,231
2. So, if you invest $200 per month (at age 20), that earns 20% compounded monthly, you would have invested a total of $60,000 by age 45. At 45, when you retire, you would have how much?
a. $444,087
b. $1,343,000
c. $60,000
d. $1,697,057