Business, 06.05.2020 09:01 kingjonesjr

Scenario: At the start of your first job, you save $3,000 per year into a 401(k) account. Each year, you increase that
amount by $250. This continues every year for 30 years. In this example, the investment earns a 7% rate of return each
year.
Given the scenario, answer the following questions. Use the chart below to compute your answers.
1. What would the yearly contribution be in year 2? 3500
2. What would the net return be in year 1_
and year 2
3. How much money would be saved in year 1?
4. Suppose the investment lost.75% in year 3. What would be the average return for all three years?
5. What would be the value of this retirement investment after 30?

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Scenario: At the start of your first job, you save $3,000 per year into a 401(k) account. Each year,...

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