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Using the information of Problem 9: Your company sponsors a 401(k) plan into which you deposit 10 percent of your $120,000 annual income. Your company
Using the information of Problem 9: Your company sponsors a 401(k) plan into which you deposit 10 percent of your $120,000 annual income. Your company matches 75 percent of the first 10 percent of your earnings. You expect the fund to yield 12 percent next year. Assume you are currently in the 31 percent tax bracket. Assume all variables remain constant over the next 15 years. a. What will your 401(k) fund value be in 15 years (when you expect to retire)? (Round your answer to the nearest whole number. (e.g., 32))
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