Rate of return relative to net amount of money he invested

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Reference no: EM13927624

An employee contributes 9 percent of his salary to his 401(k) plan and the employer matches with 40 percent of the first 6 percent of the employee's salary. The employee earns $90,000 and is in a 28 percent tax bracket. If the employee earns 10 percent on the plan investments, what is his one-year rate of return relative to the net amount of money he invested?

Reference no: EM13927624

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