Your employer offers a 4 0 1 ( k ) plan with a 2 3 % match,

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Question:

Your employer offers a

401 (

)

plan with a

23 %

match, and you set a goal of retiring in

26

years with an amount of money which has the same buying power that

1.4

million dollars has today. If the account earns an annual interest rate of

1.7 %

and the expected annual rate of inflation is

1.7 %,

how much should YOU contribute each month to the

401 (

) ?

Posted Date: May 11, 2024 03:26 AM

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Your employer offers a 4 0 1 ( k ) plan with a 2 3 % match,

Question:

Expert Answer:

To solve this problem we need to find the required monthly contribution to the 401k plan to achieve ... View the full answer

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