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Social Security guidelines state that any American citizen age 50 and older can deposit up to $25,000 per year in a 401K. If your mother
Social Security guidelines state that any American citizen age 50 and older can deposit up to $25,000 per year in a 401K. If your mother Irenes starting account balance at age 50 is $100,000 and she contributes the full amount possible in each future year, how much money will she have saved when she is 65 years old? The interest rate earned by her account is 6% per year. Express your answer as dollars, rounded to the nearest dollar.
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