3. Michael is 24 years old and has a 401(k) plan through his employer, a large nancial institution. His company matches 50% of his contributions up to 6% of his salary. He currently contributes the maximum amount he can (i.e., 6%). In his 401(k). he has three Funds. Investment A is a largecap index fund, which has had an average annual growth over the past 10 years of.63% with a standard deviation of l 3.46%. Investment B is a midcap index fund with a illyear average annual growth of9.89% and a standard deviation of 15.28%, Finally, Investment C is a smallcap Index fund with a illyear average annual growth rate of8.55% and a standard deviation of 16.90%. Fifty percent ofhis contribution is directed to Investment A, 25% to Investment B, and 25% to Investment C. His current salary is $48,000 and based on a compensation survey of financial institutions, he expects an average raise of 2.7% with a standard deviation of.4% each year. Develop a simulation model to predict his 401(k) balance at age 60