Question: Richard has enrolled in a 401(k) saving plan. He intends to deposit $255 each month; his employer does not contribute to his account. His account


Richard has enrolled in a 401(k) saving plan. He intends to deposit $255 each month; his employer does not contribute to his account. His account pays 3.4% annually. He plans to retired in 29 years. How much money did Richard put into his 401(k) account over the 29 years? Round your answer to the nearest cent. Maria works for a not-for-profit company that offers 50% matching for their 403(b) plan. A 403(b) plan is very similar to a 401(k) plan and allows employees to invest their money pre-tax. The plan predicts investors will earn 5% If Maria invests $230 per month, how much money will her company match her every month? Round your answer to the nearest cent
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