Question 4 (1 point) Andy deposited $20,000.00 into a retirement savings account 3 years ago...
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Question 4 (1 point) Andy deposited $20,000.00 into a retirement savings account 3 years ago at a fixed rate of 6.00%. Today, Andy could earn a fixed rate of 6.50% on a similar type of account. However, Andy's rate is fixed and cannot be adjusted. How much more or less did Andy need to deposit 3 years ago if he could have earned a fixed rate of 6.50% and still have the same amount as he currently will when he retires 35 years from today? a) $3,037.14 less b) $3,429.04 more c) $3,037.14 more d) $3,274.94 more e) $3,274.94 less
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