Retirement Savings Scenario A business professional is going to save $550 each month in her...
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Retirement Savings Scenario A business professional is going to save $550 each month in her company's 401K retirement savings plan. She currently has $4,000 in this account. Assume the return is 7.2% annually, compounded monthly.
4. How much will she have at the end of 20 years, if she starts today? a. $320,185 b. $315,978 c. $310,380 d. $312.141 e. $318,330
5. Refer to the Retirement Savings scenario above. How much will she have at the end of 20 years, if she starts a month from now? a. $320,185 b. $315,978 c. $310,380 d. $312,141 e. $318,330
Refer to the Retirement Savings scenario above. How much would she have to save each month to have $2,000,000 at the end of 40 years? Assume she starts a month from now. a. $694.78 b. $722.18 c. $626.36 d. $672.14 e. $654.49
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