Part A: Your job offers a retirement savings plan to match your investments into an account,...

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Part A: Your job offers a retirement savings plan to match your investments into an account, up to 5% of your gross monthly income. This account earns 5.7% interest compounded monthly. 401(k) plans have an average annual return of 5% to 8%) Monthly Gross = $4,481.75 and 5% of that is $224.09 You wish to have $1,000,000 in your retirement at the age of 65. If you invest 5% of your gross monthly income into the 401(k) in the account above, will you reach your goal? State the amount you will reach as your answer. Do not state only yes or no. No, I will not. Per my calculations, it would take roughly 255 years to reach my goal of $1,000,000. At age 65 with an investment of 5% of my gross monthly, I will reach. I should reach $115,630.44 with $2,584.39 being interst. Maybe 5% is too much of your gross monthly income, maybe its not enough. At what percentage of your monthly gross income must you invest in the 401(k) to reach your goal? You wish to have $1,000,000 in your 401(k) when you retire. If you invest 5% of your gross monthly income into the 401(k) in the account above, after how many years of investing will you reach your goal? It will take about 255 years to reach my goal if I invest 5%. I Gwyneth Trent 4 Different Retirement Scenario: If you start using the company retirement plan when you are hired (at 22) but stop adding money to the account after 20 years, how much money will be in the account when you retire (at 65)? Round to the nearest cent. Part A: Your job offers a retirement savings plan to match your investments into an account, up to 5% of your gross monthly income. This account earns 5.7% interest compounded monthly. 401(k) plans have an average annual return of 5% to 8%) Monthly Gross = $4,481.75 and 5% of that is $224.09 You wish to have $1,000,000 in your retirement at the age of 65. If you invest 5% of your gross monthly income into the 401(k) in the account above, will you reach your goal? State the amount you will reach as your answer. Do not state only yes or no. No, I will not. Per my calculations, it would take roughly 255 years to reach my goal of $1,000,000. At age 65 with an investment of 5% of my gross monthly, I will reach. I should reach $115,630.44 with $2,584.39 being interst. Maybe 5% is too much of your gross monthly income, maybe its not enough. At what percentage of your monthly gross income must you invest in the 401(k) to reach your goal? You wish to have $1,000,000 in your 401(k) when you retire. If you invest 5% of your gross monthly income into the 401(k) in the account above, after how many years of investing will you reach your goal? It will take about 255 years to reach my goal if I invest 5%. I Gwyneth Trent 4 Different Retirement Scenario: If you start using the company retirement plan when you are hired (at 22) but stop adding money to the account after 20 years, how much money will be in the account when you retire (at 65)? Round to the nearest cent.