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What is the future value

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Assume you make $54,000/year ($4,500/month) and save 10% of your monthly salary ($450/month) in your 401-K account. Your employer will match 5% of your salary per month (at the end of the month) and deposit it in your 401-K account for 30 years.

You expect this account to earn an 10% return. What is the future value of the 401-K account in 30 years?

  • $847,683
  • $1,525,829
  • $1,017,220
  • $10,172,195
  • $111,033

Reference no: EM131383956

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