Mike wants to have 3000000 in his 401k when he retires in


Mike wants to have $3,000,000 in his 401(K) when he retires in 30 years. If he expects his 401(K) can earn 4.3% annual interest, about how much must Mike invest each year to reach his retirement goal?

$1,000,000

$179,864.73

$50.864.73

$40,524.19

Request for Solution File

Ask an Expert for Answer!!
Financial Management: Mike wants to have 3000000 in his 401k when he retires in
Reference No:- TGS01249042

Expected delivery within 24 Hours