Employee Plus Employer Contributions to a 401(k)are $11,000 Per Year

question 19

Multiple Choice

Employee plus employer contributions to a 401(k) are $11,000 per year. Equity funds are earning 10 percent; bond funds,5 percent; and money market funds,3 percent. The employee will retire in 30 years. How much money will he have if he earns the average return from putting 65 percent of his money in equities,30 percent in bond funds,and the rest in money market funds?

• A)$1,838,526
• B)$1,280,925
• C)$1,654,320
• D)$1,978,565
• E)$1,248,550

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Definitions:

Head of Personnel

A senior position within a company responsible for overseeing the human resources department and the management of employee-related processes.

Hiring

The process of reviewing applications, interviewing candidates, and selecting an individual for employment.

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A sentence structure where the subject performs the action expressed by the verb, making the writing clear and direct.

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