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EXCEL FORMULAS PLEASE 1. If I start a job today and will immediately begin contributing to a 401k, how much will I have after 25
EXCEL FORMULAS PLEASE
1. If I start a job today and will immediately begin contributing to a 401k, how much will I have after 25 years,given the following assumptions? $125,000 Salary 6.00%% of salary put to 401k, contributed at year end every year 25years of contributions 5.50%Return on investments during working years $383,644.41 <- answer: balance after end of 25 years 2. If I were to assume a salary growth rate of 2.5% per year as well, what would my balance be after 25 years? <- answer: balance after end of 25 years 4. If, when I reached retirement, I actually had a balance in my retirement account of $3.4 million,how much can I withdraw at the end of each year if I assume 30 years of retirement and a returnon my investments of 4.0% during retirement? <- answer: amount of yearly withdrawalStep by Step Solution
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