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Question 35: (1 Point) Josie just graduated from engineering at Concordia and landed her first job paying an annual gross salary of $70,000. On the
Question 35: (1 Point) Josie just graduated from engineering at Concordia and landed her first job paying an annual gross salary of $70,000. On the first day of work, she was presented with all the company benefits. She knew to take advantage of the company pension plan as the company matches her contributions dollar for dollar in this plan at the end of each month. The plan averages 6% interest compounded monthly. Josie is 24 years old and plans to retire at age 60. She receives her pay at the beginning of each month and contributes 8% of her gross monthly salary immediately into her retirement plan. How much will she have accumulated in her plan when she retires? $986,346 $1,426,826 $1,335,778 $1,129,972 $1,226,937
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