Your friend is able to invest $100 a month in a 401(k) with a predicted...
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Accounting
Your friend is able to invest $100 a month in a 401(k) with a predicted growth rate of 4%. Your friends company will match 50% of your friends contributions.
How much does your friends company contribute every month?
$ (round to the nearest dollar)
Use Excels FV function to find the account balance after 20 years.
$ (round to the nearest cent)
How much was deposited over 20 years by your friend? By the company?
Your friend's contributions: $ (round to the nearest dollar)
The company's contributions: $ (round to the nearest dollar)
How much did your friend earn in interest?
$ (round to the nearest cent)
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