Question 1198973
at 6% compounded monthly, your employer will need to contribute 401.71 at the end of each month for 40 years (480 months).
at 2% compounded monthly, your employer will need to contribute 1089.27 at the end of each month for 40 years (480 months).


online calculator that does this is found as <a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a>


these are the results:


<img src = "http://theo.x10hosting.com/2022/121903.jpg">


<img src = "http://theo.x10hosting.com/2022/121904.jpg">


40 years * 12 months per year = 480 months.
6% per year / 12 = .5%  per month
2% per hear / 12 = .16666666666....% per month.
pay is negative because it is what you are paying.
future value is positive because it is what you are reciving.