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How much money did lulu deposit into account

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Question 1: Lulu started saving $200/month in a 401(k) earning 6% interest compounded monthly when she was 45 years old. How much will be in her account when she retires at age 65?

Question 2: How much money did Lulu deposit into her account over the course of the 20 years?

Question 3: What dollar amount of interest did her account earn?

Question 4: Murphy started putting $100/month into his 401(k) earning 6% APR when he was 25 years old. How much will be in his account when he retires at age 65, if interest is compounded monthly?

Question 5: How much money did Murphy deposit into his account over the course of the 40 years?

Question 6: What dollar amount of interest did his account earn?

Reference no: EM132570250

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