Find an Online Tutor Now

Andres B.

asked • 03/04/14

401k Math Question

Tina contributes 9.5% of her monthly salary towards her 401(k) and her employer matches up to 5.4% of her contribution. If the interest rate of her 401(k) is 8.1% compounded monthly and her monthly salary is $2,461, determine the amount in her account after 25 years. Round to the nearest cent.
 
 

3 Answers By Expert Tutors

By:

Steve S. answered • 03/05/14

Tutor
5 (3)

Tutoring in Precalculus, Trig, and Differential Calculus

Donald R. answered • 03/04/14

Tutor
4.9 (58)

High School Pysics, Math and SAT Math Prep

Joe R. answered • 03/04/14

Tutor
5 (2)

20+ years in Managerial Accounting, Univ. level teaching experience

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.