Calculator Problem – 06/30/2014

If you make $2000 a month and contribute 10% into a 401k and the company matches dollar for dollar up to 5% and the 401k makes 8% per year, how much would you have after 30 years?

(The answer will be posted with the new calculator problem in 2 weeks. Or if you can’t wait that long, you can go to https://www.facebook.com/garyjohnstonseminars for the answer.)

Answer for 06/16/2014 problem:

(N=480,I=10,PV=0,PMT=100) FV= 632,407.96
$632,407.96 – $75,936.88 = $556,471.08
240 * $100 = $24,000