If he puts away 10% of his $32,000 salary every year, The total of his 401(k) be in 10 years is: a. $67,266.16.
<h3>
401(k) in 10 years</h3>
First step
Contribution=(10% ×$32,000)+ 50% from employer
Contribution=$3,200+ ($3,200×50%)
Contribution=$3,200+$1,600
Contribution=$4,800
Second step
Future value= 4800 (1 + 0.073)^10 – 1/ 0.073
Future value= 4800 (1 .073)^10 – 1/ 0.073
Future value= 4800 (2.0230062274104 – 1) / 0.073
Future value= 4800 (1.0230062274104) / 0.073
Future value=$4,910.42989157/0.073
Future value=$67,226.16
Therefore the total of his 401(k) be in 10 years is: a. $67,266.16.
Learn more about 401(k) here:brainly.com/question/3516994
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