SOLUTION: You begin working at age 23, and your employer deposits $300 per month into a retirement account that pays an APR of 6% compounded monthly. You expect to retire at age 65. What wi

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Question 1187058: You begin working at age 23, and your employer deposits $300 per month into a retirement account that pays an APR of 6% compounded monthly. You expect to retire at age 65.
What will be the size of your nest egg at age 65?
Answer by math_helper(2461)   (Show Source): You can put this solution on YOUR website!


Using this online calculator:

https://www.bankrate.com/calculators/savings/compound-savings-calculator-tool.aspx



The employer portion will grow to $684,454. 

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