Question
2. Suppose you are paid $3600 per month and your employer's 401(k) matches your contributions by 25% up to a maximum of 12% of
2. Suppose you are paid $3600 per month and your employer's 401(k) matches your contributions by 25% up to a maximum of 12% of your pay. Assuming you max-out your retirement savings and you work for 25 years, how much will the 401(k) be worth when you retire (if you can get an APR of 8% during your work years)?
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Managerial Accounting An Introduction to Concepts Methods and Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
11th edition
1111571260, 978-1111571269
