What is the value of lauren upon retirement

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Problem 1: Lauren will make annual contributions in the amount of $4,500, on average, to a 401(k) over the next 36 years. Her employer will match 75% of her contributions. She is currently being taxed at 35%, but anticipates being taxed at 28% upon retirement. If her account grows at an average rate of 6.2% annually, what is the value of Lauren's 401(k) upon retirement?

A. $403,396.71

B. $637,310.77

C. $705,944.24

D. $923,778.11

Reference no: EM132879114

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