When he was 30, Kearney began investing $200 per month in various securities for his retirement savings. His investments averaged a 5. 5%
annual rate of return until he retired at age 68. What was the value of Kearney's retirement savings when he retired? Assume monthly
compounding of interest. (2 points)
$182,722. 38
$307,479. 35
$351,115. 71
$1,537. 40
