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Question
Employee plus employer contributions to a 401(k) are $11,000 per year. Equity funds are earning 10%, bond funds 5%, and money market funds 3%. The employee will retire in 30 years. How much money will he have if he earns the average return from putting 65% of his money in equities, 30% in bond funds, and the rest in money market funds?
A. $1,280,925
B. $1,838,526
C. $1,654,320
D. $1,978,565
E. $1,248,550
Answer
This answer is hidden. It contains 70 characters.
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