At Chase, you contribute 9% of your salary to the 401-k; deposits are made annually. Your starting

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At Chase, you contribute 9% of your salary to the 401-k; deposits are made annually. Your starting salary at Chase is $80,000 and you expect to earn 3% pay raise every year. Chase matches your 401-k at 66.6667% (matching funds are deposited annually) and pays interest at 7.2% per year.

At Chase, you had a hardship withdrawal of $30,000 at age 50. It was returned to the account at age 60.

You retire from Chase when you reach 65. You transfer your funds to Charles Schwab retirement account.

What is the total amount transferred to Charles Schwab?

Posted Date: Nov 19, 2021 05:54 PM

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At Chase, you contribute 9% of your salary to the 401-k; deposits are made annually. Your starting

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Expert Answer:

The total amount transferred to Charles Schwab would be 103333... View the full answer

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