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Please help me with this question! Thank you! At age 24 after graduating from Cal Poly, three good friends begin working and open their 401(k)
Please help me with this question! Thank you!
At age 24 after graduating from Cal Poly, three good friends begin working and open their 401(k) or 403(b) accounts within their companies. Let's call them Albert, Ben and Charles. If all three plan to retire and withdraw the 401(k) or 403(b) accounts at age 65, and individually Albert/Ben/Charles have found different RORs of mutual funds in investment at 3%/5 % / 8% respectively in average of the investment duration. How much difference among the three when they reach age 65 (in ratios of comparison in amount)? 26 24 25 27 64 65 Age H TH A (Uniform, assuming it is the same throughout contribution period) A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. Taxes aren't paid until the money is withdrawn from the accountStep by Step Solution
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