If you have $100,000 in a 401(k) growing 10% per year on average, how much will this be worth in 35 years when you retire?

Question

Quizplus · Accepted Answer

The future value of an investment can be calculated using the formula for compound interest: FV = P(1 + r)^n, where P is the principal amount ($100,000), r is the annual interest rate (10% or 0.10), and n is the number of years (35). Plugging in the values, FV = $100,000 * (1 + 0.10)^35 = $3,200,000.

If You Have $100,000 in a 401(k) Growing 10% Per