Your employer offers a 401(k) plan with a 46% match, and you set a goal of retiring in 29 years with an amount of money which has the same buying power that 1.9 million dollars has today. If the account earns an annual interest rate of 1.8% and the expected annual rate of inflation is 1.3%, how much should you contribute each month to the 401(k)? Round your answer to the nearest dollar.
I Answered 2464, but the Correct Answer is 4146.0. Can someone show me how to do it correctly?
Get Answers For Free
Most questions answered within 1 hours.