Assume you make $54,000/year ($4,500/month) and save 10% of your monthly salary ($450/month) in your 401-K account. Your employer will match 5% of your salary per month (at the end of the month) and deposit it in your 401-K account for 30 years.
You expect this account to earn an 10% return. What is the future value of the 401-K account in 30 years?
- $847,683
- $1,525,829
- $1,017,220
- $10,172,195
- $111,033