Question

Heidi contributes 11% of her monthly salary towards her 401(k) and her employer matches her contribution up to 6% of her salary. If the interest rate of her 401(k) is 6.25% compounded monthly and her monthly salary is $3,250, determine the amount in her account after 15 years. Round to the nearest cent.
A. $164,146.52
B. $165,001.45
C. $112,585.20
D. $113,171.58

Answer 1

The answer is A.) $164,146.52 on e2020. I tried the other answer and got in incorrect. Don't make my same mistake, take my answer.

~Have a good day. :)

Answer 2

I just did the practice quiz on Edge and the correct answer is A) $164,146.52