Suppose that between the ages of 22 and

36,

you contribute

$9000

per year to a 401(k) and your employer contributes

$4500

per year on your behalf. The interest rate is

7.9%

compounded annually. What is the value of the 401(k) after

14

years? b. Suppose that after

14

years of working for this firm, you move on to a new job. However, you keep your accumulated retirement funds in the 401(k). How much money will you have in the plan when you reach age 65? c. What is the difference between the amount of money you will have accumulated in the 401(k) and the amount you contributed to the plan?

a. The value of the 401(k) after

14

years is

$nothing.

(Do not round until the final answer. Then round to the nearest dollar as needed.)

b. The money accumulated in the plan when reaching age 65 is

$nothing.

(Do not round until the final answer. Then round to the nearest dollar as needed.)

c. The difference between the amount of money you will have accumulated in the 401(k) and the amount you contributed to the plan is

$nothing.

(Do not round until the final answer. Then round to the nearest dollar as needed.)