This is a four-part question
Ashley earns $48,000 per year, and she's paid monthly. Ashley's employer offers a 401(k) plan, and her employer will contribute 8% of her salary provided Ashley contributes at least 6%. What is the minimum amount of money that Ashley needs to contribute to her 401(k) each month to get the contribution from her employer? (ROUND TWO DECIMAL PLACES)
Suppose Ashley contributes the minimum amount of money to her 401(k) to get the contribution from her employer. How much money will her employer contribute to her 401(k) each month? (ROUND TWO DECIMAL PLACES)
Suppose Ashley contributes the minimum amount of money to her 401(k) to get the contribution from her employer. Ashley is 26 years old, and she would like to retire when she's 65 years old. How much money will Ashley accumulate by the time she retires? Assume her investments will earn an interest rate of 6%, which is a reasonable inflation-adjusted return for a diversified investment portfolio. (ROUND TWO DECIMAL PLACES)
Will Ashley have enough money to retire when they're 65 years old? Justify your answer. You should consider the 4% Rule when deciding whether their nest egg will be sufficient. (ROUND TWO DECIMAL PLACES)