Question
At Chase, you contribute 9% of your salary to the 401-k; deposits are made annually. Your starting salary at Chase is $80,000 and you expect
At Chase, you contribute 9% of your salary to the 401-k; deposits are made annually. Your starting salary at Chase is $80,000 and you expect to earn 3% pay raise every year. Chase matches your 401-k at 66.6667% (matching funds are deposited annually) and pays interest at 7.2% per year.
At Chase, you had a hardship withdrawal of $30,000 at age 50. It was returned to the account at age 60.
You retire from Chase when you reach 65. You transfer your funds to Charles Schwab retirement account.
- What is the total amount transferred to Charles Schwab?
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Horngrens Accounting Volume 1
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood
11th Canadian Edition
0135359708, 9780135359709
