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Your company sponsors a 401(k) plan into which our deposit 12 percent of your $60,000 annual income. Your company matches 50 percent of the first
Your company sponsors a 401(k) plan into which our deposit 12 percent of your $60,000 annual income. Your company matches 50 percent of the first 5 percent of your earnings. You expect the fund to yield 10 percent next year. If you are currently in the 31 percent tax bracket, what is your annual investment in the 401(k) plan and your one-year return
Your company sponsors a 401(k) plan into which our deposit 12 percent of your
$60,000 annual income. Your company matches 50 percent of the first 5 percent of
your earnings. You expect the fund to yield 10 percent next year. If you are currently
in the 31 percent tax bracket, what is your annual investment in the 401(k) plan and
your one-year return
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