Solve the problem.Consider a retirement savings account where the monthly contribution is $125 for the first 15 years, is increased to $250 for the next 20 years, and then is increased once again to $300 for the last 5 years. The APR is always 6.0% compounded monthly. What is the value of the account at the end of 40 years? Round your answer to the nearest cent.

A. $339,049.09
B. $338,059.30
C. $343,032.07
D. $342,042.28
E. $335,066.11


Answer: A

Mathematics

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