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Suppose that between the ages of 25 and 35, you contribute $4,000 per year to a...

Suppose that between the ages of 25 and 35, you contribute $4,000 per year to a 401(k) and your employer matches this contribution dollar per dollar on your behalf. The interest rate is 8.5% compounded annually. The value of the 401(k) at the end of the 10 years is . After the 10 years of working for this firm, you move on to a new job. However, you keep your accumulated retirement fund in the 401(k). This account has accumulated dollars (rounded tot he nearest dollar) when you reach the age of 65. The difference between the amount of money you will have accumulated in the 401(k) at the age of 65 and the amount you contributed to the plan is dollars (rounded to the nearest dollar).

Math   Statistics-And-Probability   
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