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PLEASE HELP!! 2. Alice has a 401K with an APR of 2.5% that compounds monthly. She plans on contributing $500.00 a month and her company will match her contribution for a total of $1,000.00 a month contributed.
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PLEASE HELP!!

2. Alice has a 401K with an APR of 2.5% that compounds monthly. She plans on contributing
$500.00 a month and her company will match her contribution for a total of $1,000.00 a
month contributed. How much money will be in the account at the time of her retirement
(age 65)? Show all calculations.

User Transcendental
by
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1 Answer

6 votes

Answer:

multiply 12x65, then multiply that by 1,000 to get 780,000

Explanation:

User Matthew Feickert
by
7.1k points
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