What is your one-year return

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Reference no: EM131523481

Your company sponsors a 401(k) plan into which you deposit 10 percent of your $89,000 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. If you are currently in the 31 percent tax bracket.

a. How many dollars did you invest out of your salary in your 401(k) plan this year?

Annual investment $

b. What is your one-year return? (Round your answer to 2 decimal places. (e.g., 32.16))

One-year return %

Reference no: EM131523481

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