A20-year-old student wants to save $3 a day for her retirement. every day she places $3 in a drawer. at the end of each year, she invests the accumulated savings ($1,095) in a brokerage account with an expected annual return of 12%. how much money will she have when she is 65 years old? (we did this part in class)

The money she will be having when she is 65 years old is $1487261.89.

Explanation:

Annual savings = $3×365

                           = $1,095

Savings at the end of 65 years = $1,095×[(1 + 12%)^(65-20) - 1] / 12%  

                                                    = $1487261.89

Therefore, the money she will be having when she is 65 years old is $1487261.89.  

there was no passage listed but using the process of elimination i'd say it was d. the high economy would do the opposite. i don't see how low prices would affect it. high unemployment is possible but i feel d is the better answer.

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