Question

According to one study, the average monthly cell phone bill in the U.S. is $70. If a 20-year old student with an average bill gives up her cell phone and each month invests the $70 she would have spent on her phone bill in a savings plan that averages a 4% annual return, how much will she have saved by the time she is 65?

Answer 1

$37,800

Explanation:

If she put 70 dollars in every month for 45 years she would have $37,800