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Complete Question
You have recently signed up for a new job and noticed this policy for retirement savings. Invest $200 and the employer does 70% matching for 35 years at an interest rate of 4.8%.
Find the total amount that the employer contributes each month.
Answer:
$349
Step-by-step explanation:
Your Investment per month = $200
Your Employer's contribution per month = 70%
Your Employer's contribution = $200 × 70%
= $140
Therefore, the total amount that the employer contributes each month is $140
