Hello can you please walk me through how to do this the annual income is 20,000 It is wise to set aside 7.5% of gross monthly income for 401 k investment. Assume the investment earns a 5% annual...

Hello can you please walk me through how to do this

the annual income is 20,000

It is wise to set aside 7.5% of gross monthly income for 401 k investment. Assume the investment earns a 5% annual return and use Excel to determine the balance after 40 years for the unskilled worker and for your expected income. Then use Excel to determine how many years it would take for the unskilled worker and for your expected investment to reach $500,000.