If an Employee Earning $75,000 Per Year Annually for 20

question 1

Multiple Choice

If an employee earning $75,000 per year annually for 20 years contributes 6% to their 401(k) plan and the employer matches 3%, plus contributes $5000 to a Roth IRA annually for 20 years, how much money will the employee have at the end of 20 years assuming all funds are invested at 6% per annum?

• A) $432,231
• B) $524,234
• C) $450,456
• D) $365,056

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Definitions:

Unemployment Rate

The percentage of the labor force that is unemployed and actively seeking employment.

Bargaining Unit

A group of employees with a clear and identifiable community of interests, recognized by an employer or by law, that is represented collectively in negotiations with the employer.

Collective Bargaining

The process in which employers and a group of employees negotiate the terms and conditions of employment, including wages, hours, work practices, and more.

Wildcat Strike

A labor strike unauthorized by the workers' union leadership, often spontaneous and occurring in direct response to grievances or disputes without formal union approval.