Assume you make $100,000 every year in a 401(k) and choose no employer match. You save 5%

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Assume you make $100,000 every year in a 401(k) and choose no employer match. You save 5% of your income. Your annual return is 7%.

How much will you have in 40 years?

Assume you make $100,000 every year in a 401(k). You save 5% of your income. Your employer matches 100% of your savings. Your annual return is 7%.

How much will you have in 40 years?

Related Book For answer-question

Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: Jun 21, 2023 04:19 AM

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Assume you make $100,000 every year in a 401(k) and choose no employer match. You save 5%

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To calculate the amount you will have in 40 years we can use the formula for compound interest Futur... View the full answer

Personal Finance Turning Money into Wealth

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