Mutual Fund Personal Asset Allocation for your employer sponsored 401(k) On the first day of your job, your employer has discussed with you the many benefits offered by the employer to you as an employee. One of these benefits is an employer contribution into your 401(k) plan provided by the employer. You have decided your will deposit 10% of your paycheck into your employer's 401(k) plan. Your employer is going to match your contribution up to 5%. Your salary is $60,000. Your employer gave you an extensive list of mutual funds from which you were to select the funds you wish to utilize in your 401(k). From the list of funds provided by your employer, you have selected the following two funds with the percentage of asset classes each fund owns: Stock Growth Fund: Cash Stocks Bond Total 2% 98% 0% 100% Conservative Mix Fund: Cash Stocks Bonds Total 3% 25% 72% 100% Your employer has asked you to tell them what percentage of your contribution and the matching contribution by the employer, will be made into each fund. In taking the Vanguard Asset Allocation preference in Professor Hicks' class, it was determined that your preferred asset allocation based on your risk tolerance was 70% stocks and 30% bonds. Answer the following questions: 1. What is the total dollar amount of money invested into your 401(k) plan each year, considering both your personal contribution and your employer's matching contribution