Les would have $566,190.22 if he worked for 30 years and then retired. He built this “nest egg” by saving $150 a month for retirement through his company’s retirement plan.
His employer contributed an additional $0.50 for every $1.00 that he saved. He also earned 10.5 percent on his retirement savings. What if Les now decides that he can retire when his savings build up to $500,000? When will that be? a. 185.18 years b. 26.49 years c. 29.21 years d. 33.33 years e. 28.86 years
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