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Julio saves $200 per month in a 401(k) at 2.5% APR compounded monthly for 35 years, 2. Use Excel to determine his balance at the
Julio saves $200 per month in a 401(k) at 2.5% APR compounded monthly for 35 years, 2. Use Excel to determine his balance at the end of that period. 3. How much money did Julio deposit into this savings plan in total? 4. How much of his balance is interest from the bank? 5. Assuming Julio had the money taken out of his paycheck each month, how much less money did Julio receive from his paychecks in total? (Assume 20% for taxes.) 6. If you think of Julio's total in problem 5 as his actual investment, how much profit did Julio make on this investment
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