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

Question

Mathematics

Mathew Hester

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

+1

Answers (1)

Know the Answer?

Rollie · Answer 1

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