Alfred has been advised t

Alfred has been advised t

Alfred has been advised that on each pay day he should pay himself first by depositing some part of his paycheck in a fund before spending any of the paycheck. He has resolved to invest $280 a month into a savings fund.   To simplify calcualtions, consider each month as having exactly 28 days meaning that there will be 13 months per year, exactly 52 weeks per year, exactly 4 weeks per month and 364 days per year (52*7). How much will Alfred accumulate in 40 years for each of the following investment alternatives?A. Deposit $280 once a month into a fund with an APR of 3.02% with interest compounded monthly (13 times per year)B. Deposit $70 once a week into a fund with an APR of 2.67% with interest compounded weekly (52 times per year)C. Deposit $70 once a week into a fund with an APR of 2.66% with interest compounded Daily (364 times per year)

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