How much does your friends company contribute every month, Financial Management

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How much does your friends company contribute every month

Your friend is able to invest $120 a month in a 401(K) with a predicted growth rate of 3%. Your friends company will match 50% of your friends contributions.

a. How much does your friends company contribute every month? (round to the nearest dollar

b. Use excel’s FV function to find the account balance after 20 years. (round to the nearest cent)

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