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What is the total annual investment in the plan at year-end

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Reference no: EM132878684

Your company sponsors a 401(k) plan into which you deposit 14 percent of your $65,000 annual income. Your company matches 50 percent of the first 5 percent of your earnings. You expect the fund to yield 8 percent next year. Assume you are currently in the 31 percent tax bracket.

Problem a. What is the total annual investment in the 401(k) plan at year-end? (Round your answer to the nearest whole number.)

Problem b. What is your one-year return? (Round your answer to 2 decimal places)

Reference no: EM132878684

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