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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
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 8 percent of your earnings. You expect the fund to yield 9 percent next year. If you are currently in the 31 percent tax bracket, what is your one-year return? Show all your work and explain your answers clearly
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