If an Employer Matches Contributions to a 401(k)up to a Maximum

question 33

Essay

If an employer matches contributions to a 401(k)up to a maximum of $1,800 (employer and employee each contribute $1,800)and an additional $2,200 is contributed by the employee,how much will the employee have in 35 years if the investments in the 401(k)earn an average of 9 percent?
(a)$152,600
(b)$203,000
(c)$1,251,089
(d)$776,538

---

Definitions:

Workforce

The collective group of individuals engaged in work within an organization or the labor market at large.

Management Consulting

Professional services that advise businesses on how to improve their performance through the analysis of existing organizational problems and the development of improvement plans.

Recruitment Drive

A concerted effort by an organization to attract and hire new employees.

Growth Strategy

A plan or approach utilized by an organization to expand its business, which can include strategies like market expansion, product diversification, acquisition, and innovation.