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Create a formula to calculate 401k earnings (total, employer contribution, and personal contribution) using the following inputs/variables. You can constrain the formula to the variables
Create a formula to calculate 401k earnings (total, employer contribution, and personal contribution) using the following inputs/variables. You can constrain the formula to the variables listed (you can ignore inflation, for example):
- percent to contribute (percent of salary contributing per year)
- annual salary
- annual salary increase
- current age
- age of retirement
- current 401k balance
- annual rate of return
- Employer match (%)
- max percentage of annual salary matched by employer
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