How much will be the retirement fund

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Reference no: EM13180712

Fred has accepted a new job and the new company will match his contribution to a retirement fund. For every dollar he invests, they will add a matching dollar.
If he invests $100 monthly, how much will be in the retirement fund in 25 years if it averages a return of 5.5% APR with monthly compounding.
Another retirement fund offer 6% EAR with monthly compounding. What would the value of this be in 25 years for the same deposits as given above?

Reference no: EM13180712

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