Question
** Develop a simulation model in PYTHON Jupyter notebook** Michael is 24 years old and has a 401(k) plan through his employer, a large financial
** Develop a simulation model in PYTHON Jupyter notebook**
Michael is 24 years old and has a 401(k) plan through his employer, a large financial institution. His company matches 50% of his contributions up to 6% of his salary. He currently contributes the maximum amount he can (i.e., 6%). In his 401(k), he has three funds. Investment A is a large-cap index fund, which has had an average annual growth over the past 10 years of 6.63% with a standard deviation of 13.46%. Investment B is a mid-cap index fund with a 10-year average annual growth of 9.89% and a standard deviation of 15.28%. Finally, Investment C is a small-cap Index fund with a 10-year average annual growth rate of 8.55% and a standard deviation of 16.90%. Fifty percent of his contribution is directed to Investment A, 25% to Investment B, and 25% to Investment C. His current salary is $48,000 and based on a compensation survey of financial institutions, he expects an average raise of 2.7% with a standard deviation of 0.4% each year. Develop a simulation model to predict his 401(k) balance at age 60.
Make sure answer is in python and show the answer of simulation model to predict the 401(K) balance at age 60.
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