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How much will julia have when julia is sixty years old

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Problem 1: Julia's annual income is 75000$. She has just become eligible to participate in a retirement plan. his company matches her contributions dollar for dollar. The plan is the annual return of 7% is compounded monthly. Julia is 25 years old. If she contributes 8% of her gross salary on the 1st of each month and her employer matches her contributions at the end of each month, how much will she have when she is 60 years old?

a) $1,898,765
b) $1,726,744
c) $1,839,612
d) $1,804,893
e) $1,806,307

Reference no: EM132945491

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