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Your company sponsors a 401(k) plan into which you deposit 10 percent of your $120,000 annual income. Your company match
Posted: Tue Apr 26, 2022 10:30 am
by answerhappygod
- Your Company Sponsors A 401 K Plan Into Which You Deposit 10 Percent Of Your 120 000 Annual Income Your Company Match 1 (23.01 KiB) Viewed 35 times
Your company sponsors a 401(k) plan into which you deposit 10 percent of your $120,000 annual income. Your company matches 75 percent of the first 10 percent of your earnings. You expect the fund to yield 13 percent next year. Assume you are currently in the 31 percent tax bracket. a. What is your annual investment in the 401(k) plan? (Round your answer to the nearest whole number. (e.g., 32)) b. What is your one-year return? (Round your answer to 3 decimal places. (e.g., 32.161)) Answer is complete but not entirely correct. a. Annual investment One-year return 21,000 X 186.590 % b.