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MathematicsMathematics
13 December, 23:41

Eloise is investing in a retirement account. She plans on adding an additional $50 at the end of every year and the expected monthly rate of return is 0.25% of the amount invested, calculated at the end of the month. If she starts with $1000 in the account how much money will she have two years after she started the investment?

A. 1111.76

B. 1113.28

C. 1161.76

D. 1163.28

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Answers (1)
  1. 14 December, 03:02
    0
    Well, because it is two years, 50x2 is 100 so 1000+100=1100

    Then, you would do. 25x1000 which is 2.5. That would mean you get 2.5 dollars back every month.

    Therefore, your answer is ...

    C. $1161.76
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