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Many companies offer retirement plans where the company matches the contributions made by the employee up to 6% of the employee's salary. An engineer planning
Many companies offer retirement plans where the company matches the contributions made by the employee up to 6% of the employee's salary. An engineer planning for her retirement expects to invest the maximum of 6% each year. If her salary in Year 1 is $60,000 and it increases by 4% each year, the amount she have in her account at the end of 20 years, if interest accrues at 7% per year, is closest to: $402,856 $535,900 $125,975 $104,105
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