Answer:
The correct answer is C. $110,000
Explanation:
Alison´s Saving chart is attached.
To get the final saving, first we have to calculate how much Alison will earn making the deposits.
Each year we have to add the deposit with the accumulated amount ( the first year will be 0), the we calculate the interest, remember to use the 6%.
At 35 years old, she stopped making the deposits and the interest changed, we can use the chart or the following formula.
The formula of interest is A=P (1+r)ⁿ
A=Final amount
P= Principal (the amount accumulated in the previous years)
r= interest rate
n= time
A=49345 (1+0.03)^30
A=119,773
