A business professional lands a new job that pays$120,000a year. He plans to invest11%of his salary in a 401K. His employer will match3%of his salary. He will rollover$145,000from his last employer's 401K into the new 401K.

How long would it take the 401K to reach$1,000,000, if the compound average annual rate of return is8.2% a year?(Be sure to include his contribution, his employer's contribution, and his 401K rollover. Assume the contributions are made once a year,starting a year from now.)