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An employee contributes 20000 to a 401k plan each year and

An employee contributes $20,000 to a 401(k) plan each year, and the company matches 25% of this annually. Equity funds are earning 10%, bond funds 4% and money market funds 1%. The employee will retire in 25 years. How much money will he have at retirement if he puts 60% of his money in equities, 30% in bond funds and the rest in money market funds?

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Financial Management: An employee contributes 20000 to a 401k plan each year and

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