I need this computer typed so I can read it, and please show work. thanks! Your...

I need this computer typed so I can read it, and please show work. thanks!

Your current salary is $100,000 per year. Every year you save 10 percent of your salary and invest it in a 401K plan which provides you a guaranteed return of 6 percent per year. Assume the deposits will be made at the end of each year for the next 40 years. How much will you have at the end of 40 years if your salary grows at 4 percent per year

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Expert Solution

at the end of 40th year, the account will have a balance of $2,906,889.57

workings are done in excel and it is as follows

interest rate entered in cell H1 and it shoulod be constant

jeff jeffy answered 1 year ago

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