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Current  Age: 50 Life Expectancy: 85 Current Annual Salary: 130,000 Employer Match Limit: 5% Contribution (% of salary): 10% Current 401(k) Balance: 100,000 Employer Match: 100% Expected Retirement Age: 65 Expected salary Increase and Inflation Rate: 3% How much 401(k) balance total will be at age 65?

Current  Age: 50 Life Expectancy: 85 Current Annual Salary: 130,000 Employer Match Limit: 5% Contribution (% of salary): 10% Current 401(k) Balance: 100,000 Employer Match: 100% Expected Retirement Age: 65 Expected salary Increase and Inflation Rate: 3% How much 401(k) balance total will be at age 65?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Client Information:

Current  Age: 50

Life Expectancy: 85

Current Annual Salary: 130,000

Employer Match Limit: 5%

Contribution (% of salary): 10%

Current 401(k) Balance: 100,000

Employer Match: 100%

Expected Retirement Age: 65

Expected salary Increase and Inflation Rate: 3%

How much 401(k) balance total will be at age 65? 

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