An employee contributes $20,000 to a 401(k) plan each year, and the company matches 25% of this annually. Equity funds are earning 10%, bond funds 4%, and money market funds 1%. The employee will retire in 25 years. How much money will he have at retirement if he puts 60% of his money in equities, 30% in bond funds and the rest in money market funds?

Correct answer: $1,858,158.........

Show how to derive this answer using a financial caluculator and a regular calculator and how/why you did each step or credit will not be awarded, thank you.