need help finding a formula for 401k The final investment (the...
80.2K
Verified Solution
Question
Accounting
need help finding a formula for 401k
The final investment (the 401k) does not have a max amount so it only has two possible situations: extra contributions or not. You should only check the second to last investment (the savings) and if it has been maxed out, you should add ALL of the contributions from all three prior investments. With all the formulas entered and autofilled, you need to then autofill the date (column A) down for the entire 360 month rows. Each row should represent a month so each date should be one month advanced from the previous cell. Then, enter a SUM function in cell G6 and autofill that down to where the investment contributions end. The final total at the end (2/1/2050) should be $2,351,041.86 Estimated Growth Monthly Contributi Max Balance 5.90% $50.00 7.90% $250.00 40,000.00 0. 1.90% $160.00 50,000.00 N/A 8.20% $1,156.00 $ 10,000.00 $ $ Date IRA 529 Savings Roth 401k Total Investme 3/1/2020 $ 4/1/2020 $ 5/1/2020 $ 6/1/2020 $ 7/1/2020 $ 8/1/2020 $ 9/1/2020 $ 10/1/2020 $ 11/1/2020 $ 12/1/2020 $ 1/1/2021 S 2/1/2021 S 3/1/2021 $ 4/1/2021 5/1/2021 $ uc 50.00 100.25 150.74 201.48 252.47 303.71 355.21 406.95 458.95 511.21 563.72 616.49 669.52 722.82 $250.00 $ $501.65 $ $754.95 $ $1,009.92 $ $1,266.57 $ $1,524.91 S $1,784.94 $ $2,046.70 S $2,310.17 $ $2,575.38 S $2,842.33 $ $3,111.04 $ $3,381.53 S $3,653.79 $ 42027.04 160.00 320.25 480.76 641.52 802.54 963.81 1,125.33 1.287.12 1,449.15 1,611.45 1.774.00 1,936.81 2,099.88 2.263.20 Garano Estimated Growth Monthly Contributi Max Balance 5.90% $50.00 7.90% $250.00 40,000.00 0. 1.90% $160.00 50,000.00 N/A 8.20% $1,156.00 $ 10,000.00 $ $ Date IRA 529 Savings Roth 401k Total Investme 3/1/2020 $ 4/1/2020 $ 5/1/2020 $ 6/1/2020 $ 7/1/2020 $ 8/1/2020 $ 9/1/2020 $ 10/1/2020 $ 11/1/2020 $ 12/1/2020 $ 1/1/2021 S 2/1/2021 S 3/1/2021 $ 4/1/2021 5/1/2021 $ uc 50.00 100.25 150.74 201.48 252.47 303.71 355.21 406.95 458.95 511.21 563.72 616.49 669.52 722.82 $250.00 $ $501.65 $ $754.95 $ $1,009.92 $ $1,266.57 $ $1,524.91 S $1,784.94 $ $2,046.70 S $2,310.17 $ $2,575.38 S $2,842.33 $ $3,111.04 $ $3,381.53 S $3,653.79 $ 42027.04 160.00 320.25 480.76 641.52 802.54 963.81 1,125.33 1.287.12 1,449.15 1,611.45 1.774.00 1,936.81 2,099.88 2.263.20 Garano

The final investment (the 401k) does not have a max amount so it only has two possible situations: extra contributions or not. You should only check the second to last investment (the savings) and if it has been maxed out, you should add ALL of the contributions from all three prior investments.
With all the formulas entered and autofilled, you need to then autofill the date (column A) down for the entire 360 month rows. Each row should represent a month so each date should be one month advanced from the previous cell. Then, enter a SUM function in cell G6 and autofill that down to where the investment contributions end.
The final total at the end (2/1/2050) should be $2,351,041.86
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.