Business, 19.07.2021 16:00 chychy2003

Your company sponsors a 401(k) plan into which you deposit 8 percent of your $65,000 annual income. Your company matches 50 percent of the first 3 percent of your earnings. You expect the fund to yield 8 percent next year. Assume you are currently in the 31 percent tax bracket. Required:
a. How many dollars did you invest out of your salary in your 401(k) plan this year?
b. What is your one-year return?

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