Question
Assume that Annie makes $50,000 a year for the next 30 years (she works for 30 years total). During her entire career, she contributes 8%
Assume that Annie makes $50,000 a year for the next 30 years (she works for 30 years total). During her entire career, she contributes 8% of her salary to her 401K, and her employer matches 4% of her salary (meaning her total contribution to her 401K is 12% of her salary annually). What is the FV (value in 30 years, or value upon her retirement) of all of Annies annual 401K contributions over the 30-year period assuming she earns 9% per year on her 401K investment portfolio? Please enter your answer rounded to the nearest dollar, with no dollar signs or formatting included. For example, enter the answer $40,576.34 as 40576
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