Mathematics, 08.04.2021 06:00 scoutbuffy8954
Allen opens a retirement savings account with an initial deposit of $5,000. He makes annual contributions to the account, and at the end of 5 years the account has grown to $8,650. Which best describes Allen’s investment?
A. Allen invests in a retirement savings account that earns 5.5% interest compounded annually.
B. Allen invests in a retirement savings account that earns 3% simple interest.
C. Allen invests a retirement savings account that earns 2.75% interest compounded annually.
D. Allen invests in a retirement savings account that earns 5.5% simple interest.
Answers: 1
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Allen opens a retirement savings account with an initial deposit of $5,000. He makes annual contribu...
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