Andy is investing in a 401(k) that promises 5.99% annual

Last updated: 7/28/2022

Andy is investing in a 401(k) that promises 5.99% annual growth. He plans on investing $230 each month for 27 years (there is no employer matching). Excel calculates an overall account balance of $185,193.31. How much of Andy's balance is interest? a. $11,093 b. $110,673 c. $85,243 d. $24,959 e. $74,520