Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

question 1 If Reece assumes that he will contribute the maximum amount allowed and keep these first year retirement funds invested for 35 years with

question 1
If Reece assumes that he will contribute the maximum amount allowed and keep these first year retirement funds invested for 35 years with a return of 11 percent the ABC account will be worth $________ round to the nearest cent
question 2
If Reece assumes that he will contribute the maximum amount allowed and keep these first year retirement funds invested for 35 years with a return of 11 percent the XYZ account will be worth $______ round to the nearest cent
image text in transcribed
image text in transcribed
Reece is comparing retirement plans with prospective employers. ABC, Inc., offering a salary of S29,100, wil match 75 percent of his contributions up to 10 percent of his salary, his maximum contribution XYZ Company will match 100 percent of his contribution up to 6 percent of salary, but he can contribute up to 15 percent of his income XYZ Company is offering a $27,600 salary. If Reece assumes that he will contribute the maximum amount allowed and keep these first year retirement funds invested for 35 years with a return of 11 percent, how much would each account be worth? How can be use this information when choosing an employer? Click on the table icon to view the FVIF table If Reece assumes that he will contribute the maximum amount allowed and keep those first year retirement funds invested for 35 years with a return of 11 percent, the ABC account will be worth $ (Round to the nearest cent.) n 5% * 20 2.6533 3.2071 25 3.3864 4.2919 26 3.5557 4.5494 27 3.7335 4.8223 28 3.9201 5.1117 29 4 1161 5.4184 30 4.3219 5.7435 79 3.8697 5.4274 5.8074 6.2139 6.6488 7.1143 7.6123 840 99% TS 16 12 4.6610 5.6044 6.7275 8.0623 9.6463 6.8485 8.6231 10.8347 13.5855 17.0001 7.3964 9.3992 11.9182 15.0799 19.0401 7.9881 10.2451 13.1100 16.7386 21.3249 8.6271 11.1671 14.4210 18.5799 23.8839 9.3173 12.1722 15.8631 20.6237 26.7499 10.0627 13.2677 17.4494 22.8923 29.9599

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Multifractal Financial Markets An Alternative Approach To Asset And Risk Management

Authors: Yasmine Hayek Kobeissi

1st Edition

1461444896, 978-1461444893

More Books

Students also viewed these Finance questions

Question

=+multiplicity 1). If A + 1, then |A| Answered: 1 week ago

Answered: 1 week ago