ou just graduated from college and your new employer offers a $401($k$)$ where they match your contribution, dollar for dollar. You want to know the accumulated balance in your $401($k$),$ including your employer's contribution, assuming you contribute either $$750$ per month or $$950$ per month, and the fund earns $9\mathrm{.}5\%$ annually.

Annual rate of return $9\mathrm{.}5\%$

Monthly contribution #$1$ $ $750$

Monthly contribution #$2$ $ $950$

Years to retirement $20$

Payments per year $12$

Required:

Assuming you and your employer each invest $$750$ per month, what will be the value of your $401($k$)$ at the end of $20$ years?

Assuming you and your employer each invest $$950$ per month, what will be the value of your $401($k$)$ at the end of $20$ years?

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