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Check my work Your company sponsors a 401(k) plan into which you deposit 12 percent of your $50,000 annual income. Your company matches 50 percent
Check my work Your company sponsors a 401(k) plan into which you deposit 12 percent of your $50,000 annual income. Your company matches 50 percent of the first 6 percent of your earnings. You expect the fund to yield 8 percent next year. Assume you are currently in the 31 percent tax bracket. 10 points a. What is the total annual investment in the 401(k) plan at year-end? (Round your answer to the nearest whole number. (e.g., 32) b. What is your one-year return? (Round your answer to 2 decimal places. (e.g., 32.16)) eBook References a. Annual investment b. One-year return
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