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1 answer:
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Answer:
Amount per month contributed by employer $ = 200*0.70 = 140
Total amount employer contributes $ = 140*420 = 58800
Total amount employee contributes $ = 200*420 = 84000
Total amount after 35 years with interest calculated AT 4.8% (Employer + employee + interest) $ = 371024.67
Interest amount for 35 years accumulated $ = 228224.67
Amount deposited by employee $ = 84000
Excess amount in the account over the employee contribution
Including employer contribution $ = 287024.67
Excluding employer contribution $ = 228224.67
Step-by-step explanation:
LOOK AT THE PICTURE FOR STEPS
