Instructions: Complete each of the problems provided below. Once the worksheet has been completed, please save
and upload this worksheet for the Week 1 Assignment. Upload the assignment as a Word doc or .pdf only.
Important Note: Show all math work used to arrive at your answers. This will help improve the quality of the feedback
provided to you.
1.Employee B has the opportunity to contribute to a payroll deduction 401(k) plan at work.
This employee selects an option that averages 3% per year compounded monthly and contributes $250 per month.
How much should he have in the account in 10 years?
A payroll-deduction plan is considered to be an ordinary annuity.
