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Denzel Valentine started working for Bulls Inc., who offers their employees a 401k matching plan of $0.50 for every $1 contributed up to a maximum
Denzel Valentine started working for Bulls Inc., who offers their employees a 401k matching plan of $0.50 for every $1 contributed up to a maximum of $2,000. If Denzel chooses to contribute $2,500 to the 401k each year, and the fund managers believe they can earn a 8% annual return, how much will be in the account (FV) after 30 years of matched contributions? Assume Denzel is in the 28% tax bracket.
A. $396,491.24 B. $423,937.55 C. $543,662.72 D. $633,498.30 E. $709,518.09
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