401 (k) formula?

R

raade04

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Jan 3, 2012
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I've been working on a formula for a 401k program for hours and it doesn't really make sense to me. http://www.bankrate.com/calculators/retirement/401-k-retirement-calculator.aspx the closest thing that i came up with is FV=PV*(((1+i)^years)-1/i) or 6000*((((1+.08))^35)-1/.8 6000 is added for the first year idk how to get 1000 that was previously in there to be added in also. I need the equation to work as the variables change as i substitute them in is this possible?
 
My assignment is to make a java program but I can't check to see if works correctly without putting the equation in there to have it calculate the inputted values
 
wow that makes sense thank you :) is there anyway to factor in a percent of raise increase?
 
well what it says is expected annual salary increase and it asks for a percentage. sorry for so many posts on this thread
 
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