Your client currently has $7,600 in a 401K investment account. They contribute $200 a month into this account, earning 5.3% annual return, compounded monthly. If they do this for 34 years, what is the...


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Your client currently has $7,600 in a 401K investment account. They contribute $200 a month into this<br>account, earning 5.3% annual return, compounded monthly. If they do this for 34 years, what is the value<br>of the investment account in today's real dollars? Assume the average rate of inflation is 2.7%.<br>Answer = $<br>(Round to the nearest cent/penny.)<br>

Extracted text: Your client currently has $7,600 in a 401K investment account. They contribute $200 a month into this account, earning 5.3% annual return, compounded monthly. If they do this for 34 years, what is the value of the investment account in today's real dollars? Assume the average rate of inflation is 2.7%. Answer = $ (Round to the nearest cent/penny.)

Jun 07, 2022
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