Employee Plus Employer Contributions to a 401(k) Are $11,000 Per

Employee plus employer contributions to a 401(k) are $11,000 per year. Equity funds are earning 10%, bond funds 5%, and money market funds 3%. The employee will retire in 30 years. How much money will he have if he earns the average return from putting 65% of his money in equities, 30% in bond funds, and the rest in money market funds?

A) $1,280,925
B) $1,838,526
C) $1,654,320
D) $1,978,565
E) $1,248,550 r = (65% * 10) + (30% * 5) + (5% * 3) = 8.15%; FV30 = 11,000 * FVIFA (8.15%, 30) = 1,280,925