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quickly please!! Assume your fifty-year-old client has $1,391,567 in his 401K plan and he plans to contribute $5,000 (6.25% of this year's salary) this year
quickly please!!
Assume your fifty-year-old client has $1,391,567 in his 401K plan and he plans to contribute $5,000 (6.25% of this year's salary) this year along with dollar-for-dollar employer matched contributions. These contributions are expected to rise by 3% per-year in line with his raises. How much will he have in this account at retirement in seventeen years assuming an 8.0% yield on his retirement plan assets (i.e. stocks and bonds)Step by Step Solution
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