Mathematics

Le

9 May, 19:04

Tina contributes 9.5% of her monthly salary towards her 401 (k) and her employer matches her contribution up to 5.4% of her annual salary. If the interest rate of her 401 (k) is 8.1% compounded monthly and her monthly salary is $2,461, determine the amount in her account after 25 years. Round to the nearest cent.

a.

$339,804.33

b.

$354,452.86

c.

$344,941.24

d.

$347,269.59