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Congratulations! Today is your 21st birthday. You just started working full-time, earning $100,000 per year. Your goal is to have $5 million in your 401(k)

Congratulations! Today is your 21st birthday. You just started working full-time, earning $100,000 per year. Your goal is to have $5 million in your 401(k) plan by your 66th birthday (i.e., 45 years from today). Assume 3% inflation per year, and that you start with nothing. If you can earn 10% per year annualized in an S&P 500 mutual fund, after all expenses, inside a 401(k) with a dollar for dollar match up to 10% of your income, how much would you need to save each month to have that $5 million:

  1. If that $5 million is in future (i.e., nominal) dollars (ignore taxes); $790.63

b) If that $5 million is in todays equivalent purchasing power future dollars (ignore taxes); $1,904.90

c) If your marginal tax rate is 28% federal plus 7% state, what would the after-tax cost of your investments be for (i) and (ii) if you relied on the employer match for of your monthly contributions?

Just need help with C please.

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