You wish to retire in 30 years so you begin a 401K program

Last updated: 3/7/2023

You wish to retire in 30 years so you begin a 401K program and pay 150 into your account weekly at 7 35 interest Assume 401K is compounded weekly ordinary time 24 25 26 How much will you have when you retire How much did you pay into the annuity How much interest did you receive over the thirty years u want to save 600 000 dollars for retirement in your 401K Over the next 30 ars 27 28 29 30 How much must you deposit weekly if the annuity is paying 7 35 What will be your total payments into the annuity over the 30 year period How much interest did you earn while building your annuity You retire with 600 000 in your IRA which earns 7 35 What distribution would you receive monthly if you plan to withdraw funds for the next 25 years 2 543