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Question
You want to have $1,200,000 when you retire and you are in a defined contribution plan. You can earn 9% per year on the money invested and you will retire in 25 years. Your employer also contributes to your plan. The employer will contribute 4% of what you put into the plan each year. How much do you have to contribute per year to meet your goal?
A. $18,435.43
B. $17,654.87
C. $16,879.32
D. $13,622.60
E. $15,999.44
Answer
This answer is hidden. It contains 113 characters.
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