How much did Juan have, Juan made $80,000 and he and his

How much did Juan have

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Question - Juan's company said that company employees could put up to 15% of their salary into a 401(k) plan. The company would match it dollar for dollar. Juan made $80,000 and he and his wife were in the 33% tax bracket. The investment earned 8% a year. Jesse decided to save 15% on his own by putting the money in the bank every month at 2% interest. After five years, how much did Juan have? How much did Jesse have? Be sure to consider income tax in your calculations.

Reference no: EM132837181

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