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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


Steve S. answered • 03/05/14

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Donald R. answered • 03/04/14

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Joe R. answered • 03/04/14

5 (2)

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

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