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You have just graduated from college, and are starting your first job at an annual salary of $95,000. Your new employer offers a 401k, and
You have just graduated from college, and are starting your first job at an annual salary of $95,000. Your new employer offers a 401k, and you decide to make a monthly invest 5% of your monthly salary. Use the FV function to calculate the future value of your 401k assuming the fund eams 6% tannually, and you plan to retire in 24 years. Use the FV function to compute the value of your 401k at the end of 24 years assuming a contribution rate of 5%.(5\% of your monthly salary) Use the FV function to compute the value of your 401k at the end of 24 years assuming a contribution rate of 6%.(6\% of your monthly salary)
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