How much will you meet your goal

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Reference no: EM13849638

You estimate you can fund your 401(k) about $10,000 a year. Your 401(k) is estimated to earn about 6.57% a year. You plan to retire in 30 years and want $1,000,000 in your 401(k). About how much will be in your 401(k) and will you meet your goal?

a. About $300,000; No, you will not meet your goal.

b. About $1,079,458; Yes, you will exceed your goal.

c. About $874,588; No, you will not meet your goal.

d. Exactly $1,000,00; Yes, you exactly meet your goal.

Reference no: EM13849638

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