OpenStax, Contemporary Mathematics §6.7 Investments · Example 14 · Arithmetic · Money & interest

Investments · Example 14

DeJean begins depositing $300 per month from his paycheck each month in his employer-based 401(k) account. The employer matches this deposit as it falls below their matching threshold. DeJean expects the return to average 10% per year, compounded annually.

(a) How much will DeJean’s account be worth if he keeps making those payments for 30 years?
(b) What will his account be worth without the matching funds?

~5 minWritten answer · compare with the solution

OpenStax, Contemporary Mathematics · §6.7 Investments · Example 14

Stuck? A gentle nudge

No hints for this one.

Something off?

Workspace

Your working

Check your full solution

Upload photos of your handwritten work or a PDF, and Lemma will read it and tell you whether it's right — and where it first goes wrong if not.