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Finance

Problem:

Janice plans to save 75$ per month, starting today, for 20 years. Kate plans to save 80$ a month for 20 years, starting one month from today. Both Hanice and kate expect to earn an average return of 5.5 percent on their savings. At the end of the 20 years, kate will have approximately _______ more then Janice.

A. $2,028.39

B. $2,066.67

C. $2,091.50

D. $2,178.14

E. $2,189.12

Note: Please show how to work it out.

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Category:- Basic Finance
Reference No.:- M91162722

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