If she deposits into the account for 25 years, how much will her (401(mathrm{k})) be worth? Cheryl's
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If she deposits into the account for 25 years, how much will her \(401(\mathrm{k})\) be worth?
Cheryl's company offers a 401(k) account to all employees. The company will match employee contributions up to \(6 \%\) of the employee's salary. She earns \(\$ 81,000\) per year. Cheryl decides to deposit, or contribute, \(\$ 10,000\) annually in the \(401(\mathrm{k})\). She expects a return of \(9.5 \%\) per year.
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