How much must mike invest each year to reach retirement goal

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Reference no: EM13939730

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

Reference no: EM13939730

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