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- A new employee puts 4% of his salary of $65,000 into a retirement account, and his employer matches this, also putting 3% into the account. The is invested in a diversified stock fund. His salam increases 2.5% per year. is invested in a diversified stock fund. His salary money (a) What is the value of the account after 10 years? (b) What is the value of the employer's matching funds? (c) How much will be in the account after 40 years?

- A new employee puts 4% of his salary of $65,000 into a retirement account, and his employer matches this, also putting 3% into the account. The is invested in a diversified stock fund. His salam increases 2.5% per year. is invested in a diversified stock fund. His salary money (a) What is the value of the account after 10 years? (b) What is the value of the employer's matching funds? (c) How much will be in the account after 40 years?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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is invested in a diversified stock fund. His salary into a retirement account, and his employer matches o A new employee puts 4% of his salary of $65.000 this, also putting 3% into the account. The is invested in a diversified stock fund. His salam increases 2.5% per year. money (a) What is the value of the account after 10 years? (b) What is the value of the employer's matching funds? (c) How much will be in the account after 40 years?
Transcribed Image Text:is invested in a diversified stock fund. His salary into a retirement account, and his employer matches o A new employee puts 4% of his salary of $65.000 this, also putting 3% into the account. The is invested in a diversified stock fund. His salam increases 2.5% per year. money (a) What is the value of the account after 10 years? (b) What is the value of the employer's matching funds? (c) How much will be in the account after 40 years?
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