Christina made a one-time contribution of 13000 to her 401k, Ask an Expert

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Christina made a one-time contribution of $13,000 to her 401(k) account, and she received a matching contribution from her employer in the amount of $4,200. Christina expects to earn a 8-percent before-tax rate of return on her account balance. Assuming Christina withdraws the entire balance in 25 years when she retires, what is Christina's after-tax accumulation from the $13,000 contribution to her 401(k) account? Assume her marginal tax rate at retirement is 35 percent.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91980040

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