This table shows the balance in an account if monthly deposits of $10 were compounded monthly. Annual
Interest
Value at end of:
5 years
10 years
15 years
20 years
0%
$600
$1,200
$1,800
$2,000
2%
$630
$1,327
$2,097
$2,948
4%
$663
$1,472
$2,461
$3,668
6%
$698
$1,639
$2,908
$4,620

Suppose you plan to save $10 each month, as indicated in the table. You can either deposit it into a savings account at 6% interest or you can put it under your mattress for safekeeping. How much more money will you have at the end of 5 years if you choose the savings account instead of your mattress?
a.
$698
c.
$98
b.
$439
d.
$600