Question: need help finding a formula for 401k The final investment (the 401k) does not have a max amount so it only has two possible situations:

need help finding a formula for 401k
need help finding a formula for 401k The final investment (the 401k)
The final investment (the 401k) does not have a max amount so it only has two possible situations: extra contributions or not. You should only check the second to last investment (the savings) and if it has been maxed out, you should add ALL of the contributions from all three prior investments.
With all the formulas entered and autofilled, you need to then autofill the date (column A) down for the entire 360 month rows. Each row should represent a month so each date should be one month advanced from the previous cell. Then, enter a SUM function in cell G6 and autofill that down to where the investment contributions end.
The final total at the end (2/1/2050) should be $2,351,041.86

Estimated Growth Monthly Contributi Max Balance 5.90% $50.00 7.90% $250.00 40,000.00 0. 1.90% $160.00 50,000.00 N/A 8.20% $1,156.00 $ 10,000.00 $ $ Date IRA 529 Savings Roth 401k Total Investme 3/1/2020 $ 4/1/2020 $ 5/1/2020 $ 6/1/2020 $ 7/1/2020 $ 8/1/2020 $ 9/1/2020 $ 10/1/2020 $ 11/1/2020 $ 12/1/2020 $ 1/1/2021 S 2/1/2021 S 3/1/2021 $ 4/1/2021 5/1/2021 $ uc 50.00 100.25 150.74 201.48 252.47 303.71 355.21 406.95 458.95 511.21 563.72 616.49 669.52 722.82 $250.00 $ $501.65 $ $754.95 $ $1,009.92 $ $1,266.57 $ $1,524.91 S $1,784.94 $ $2,046.70 S $2,310.17 $ $2,575.38 S $2,842.33 $ $3,111.04 $ $3,381.53 S $3,653.79 $ 42027.04 160.00 320.25 480.76 641.52 802.54 963.81 1,125.33 1.287.12 1,449.15 1,611.45 1.774.00 1,936.81 2,099.88 2.263.20 Garano Estimated Growth Monthly Contributi Max Balance 5.90% $50.00 7.90% $250.00 40,000.00 0. 1.90% $160.00 50,000.00 N/A 8.20% $1,156.00 $ 10,000.00 $ $ Date IRA 529 Savings Roth 401k Total Investme 3/1/2020 $ 4/1/2020 $ 5/1/2020 $ 6/1/2020 $ 7/1/2020 $ 8/1/2020 $ 9/1/2020 $ 10/1/2020 $ 11/1/2020 $ 12/1/2020 $ 1/1/2021 S 2/1/2021 S 3/1/2021 $ 4/1/2021 5/1/2021 $ uc 50.00 100.25 150.74 201.48 252.47 303.71 355.21 406.95 458.95 511.21 563.72 616.49 669.52 722.82 $250.00 $ $501.65 $ $754.95 $ $1,009.92 $ $1,266.57 $ $1,524.91 S $1,784.94 $ $2,046.70 S $2,310.17 $ $2,575.38 S $2,842.33 $ $3,111.04 $ $3,381.53 S $3,653.79 $ 42027.04 160.00 320.25 480.76 641.52 802.54 963.81 1,125.33 1.287.12 1,449.15 1,611.45 1.774.00 1,936.81 2,099.88 2.263.20 Garano

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!