Question: Maude worked as a Software Developer for Microsoft for 3 internships. She was just hired fulltime after graduating from Concordia in December 2022. On her
Maude worked as a Software Developer for Microsoft for 3 internships. She was just hired fulltime after graduating from Concordia in December 2022. On her first day of work on January 1,2023 , she was offered to participate in the company's retirement plan which is a Defined Contribution Pension Plan (DCPP). After having taken a Personal Finance course, Maude enrolled immediately on her first day, as she knows the benefit of putting money away early and having it grow even though she is a long way from retirement. Whatever Maude contributes, Microsoft doubles her contributions dollar for dollar. So far the plan averages a return of 7% compounded weekly. Both Maude and her employer contribute at the beginning of each month. Maude is only 24 years old with plans to retire early at age 55 . Maude can afford to contribute $300 /month. How much will she have in her retirement plan at retirement? Select one: a. $1,199.315 b. $1,370,436 c. $1,361,560 d. $1,192,344 e. $1,355,876
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