Salary =

Current Balance = 0

Contribution = 2

Matching = 2

Interest/Year = 0

Years =

Account Value =

Calculates the future value of a 401k account.

- Salary: Yearly salary amount.

- Current Balance: Current 401(k) balance.

- Contribution: Your contribution expressed as a percentage.

- Matching: Company's matching expressed as a percentage.

- Interest/Year: Annual interest rate earned on the 401(k) expressed as a percentage.

- Years: Number of years until retirement.

- Account Value: Value of the 401(k) account after the designated number of years.

Your company offers a 401(k) plan and matches 50% of contributions. You have $10,000 in the plan already and wish to contribute 4% of your $70,000 per year salary. What would be the account's value after 30 years if you can expect a 5% annual return?

- Salary: $70,000

- Current Balance: $10,000

- Contribution: 4%

- Matching: 2% [50% of your 4% contribution]

- Interest/Year: 5.000%

- Years: 30

Your 401(k) would be worth $329,763.67.

Salary

Current Balance

Contribution

Matching

Interest/Year

Years

Account Value

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401k