Question: 1 1 . You are 3 8 years old and earn $ 1 0 8 , 0 0 0 per year. You contribute 1 0

11. You are 38 years old and earn $108,000 per year. You contribute 10% of your salary to your 401(k) and your employee matches contributions 100% up to 4% of your salary. If you expect to earn 7.5% annually on your 401(k) assets, at what age do you expect to have accumulated the following balances?
a. $500,00055.2437 years old
b. $1,000,00062.6835 years old
* please show how to solve on a TMV financial calculator NOT excel, thank you :)

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