Explain why is this $2567. How would I calculate it? 401(k) Employee Savings Plan: Percent to contribute:%

Explain why is this $2567. 

How would I calculate it?

 

 

Transcribed Image Text:

401(k) Employee Savings Plan: Percent to contribute:% 5 ? ? ? ? ? ? Your total is $2,567 after 1 years. ? Annual salary: $ 50,000 Annual salary increase:% Current age: 0 Annual rate of return:% 64 65 Age of retirement: Current 401(k) balance: $ 0 5 Total employee $2,500 contributions: 0% $0 0% 15 10 $0 0% 33% $10k 4% 40 36 $100k 4% 66% $100k 8% 65 63 $1m 8% [-] 100% $1m 12% 90 90 $10m 12% 401(k) Employee Savings Plan: Percent to contribute:% 5 ? ? ? ? ? ? Your total is $2,567 after 1 years. ? Annual salary: $ 50,000 Annual salary increase:% Current age: 0 Annual rate of return:% 64 65 Age of retirement: Current 401(k) balance: $ 0 5 Total employee $2,500 contributions: 0% $0 0% 15 10 $0 0% 33% $10k 4% 40 36 $100k 4% 66% $100k 8% 65 63 $1m 8% [-] 100% $1m 12% 90 90 $10m 12%

Answer rating: 100% (QA)

The total in the image is 2567 because the employee is ... View the full answer