Please help! For context, 5% of my gross monthly income is $183.87 SECTION 4: FUTURE INVESTMENTS Part

Please help! For context, 5% of my gross monthly income is $183.87

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SECTION 4: FUTURE INVESTMENTS Part A) Your job offers retirement savings plan to match your investments into an account, up to 5% of your gross monthly income. This account earns 5.7% compounded monthly. (401(k) plans have an average annual return of 5% to 8%) 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 Yes or No. Your answer Maybe 5% is too much of your gross monthly income, maybe its too less. At what percentage of your monthly gross income must you invest in the 401(k) to reach your goal. Your answer 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? Your answer SECTION 4: FUTURE INVESTMENTS Part A) Your job offers retirement savings plan to match your investments into an account, up to 5% of your gross monthly income. This account earns 5.7% compounded monthly. (401(k) plans have an average annual return of 5% to 8%) 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 Yes or No. Your answer Maybe 5% is too much of your gross monthly income, maybe its too less. At what percentage of your monthly gross income must you invest in the 401(k) to reach your goal. Your answer 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? Your answer