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John wants to retire by the time is he turns 6 2 years old with a goal of $ 3 , 0 0 0 ,

John wants to retire by the time is he turns 62 years old with a goal of $3,000,000 in his retirement account. He is currently 50 years old and has $850,000 saved in his 401K. If he plans to save monthly for the next 12 years and expects a 9.75% rate of return, how much will he have to save monthly to achieve his goal? (Be sure to show your calculator inputs in your response.)
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