(Answered) Assume you make 54000year 4500month and save 10 of your

Management Studies

Assume you make $54,000/year ($4,500/month) and save 10% of your monthly salary ($450/month) in your 401-K account. Your employer will match 5% of your salary per month (at the end of the month) and deposit it in your 401-K account for 30 years.

You expect this account to earn an 10% return. What is the future value of the 401-K account in 30 years?

$847,683
$1,525,829
$1,017,220
$10,172,195
$111,033

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