Judith has just become eligible to participate in her companys retirement plan. Her company matches her contributions

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Judith has just become eligible to participate in her company’s retirement plan. Her company matches her contributions dollar for dollar. The plan averages an annual return of 12 percent interest compounded annually. Judith is 40 and plans to work until age 65. If she contributes $200 per month, at the end of each month, how much does her employer contribute per month? How much will she have in her retirement plan at retirement? (FV)

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Personal Finance

ISBN: 978-0134724713

4th Canadian edition

Authors: Jeff Madura, Hardeep Singh Gill

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