Based on the interest rate on the 401k and the contributions into it, the amount saved after 10 years is c. $68,395
Will's employer will match 3% of his annual salary:
= 3% x 41,000
= $1,230
Will then contributes 9%:
= $3,690
Total contribution will then be:
= 3,690 + 1,230
= $4,920
This amount is an annuity because it is constant and its value in 10 years will be:
= Amount x ( ( 1 + rate) ^ number of years - 1) / rate
= 4,920 x ( 1 + 7.13%) ¹⁰ - 1) / 7.13%
= $68,395.76
In conclusion, Will's 401k will be $68,395.76
Find out more on future value annuities at https://brainly.com/question/24346365.
