Baby boomers can save up to 25000 per year in a 401k, Ask an Expert

Economics

Baby boomers can save up to $25,000 per year in a 401k account. If Eileen's starting balance at age 53 is $220,000 and she saves the full amount available to her, how much money will she have saved when she is 65 years old (after 12 years of saving)? The interest rate is 8% per year.

Eileen will have saved $ ______million (3 decimal places)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91711103

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