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You are starting to invest in your 401k plan at work. Please answer the following: Assume that you are earning $60,000 per year. You will

You are starting to invest in your 401k plan at work. Please answer the following:

Assume that you are earning $60,000 per year.

You will get 3% annual salary increases.

Assume that you will invest 10% of your salary every year.

How much will be in your 401k plan in 40 years if you have annual returns of 9%, 4.5% and 3%?

How much will be in your 401k plan in 40 years if your employer contributes 5% of your annual salary each year with annual returns of 9%, 4.5% and 3%?

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