Divide the answer to Exercise 63 by 12 to find the monthly contribution Remy will make. Remy

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Divide the answer to Exercise 63 by 12 to find the monthly contribution Remy will make.

Remy wants to use his 401 (k) to save $\$ 1,750,000$ when he retires in 30 years. He assumes the plan will yield $10.4 \%$ compounded annually. His company will match contributions up to $6 \%$ of annual salary. His salary is $\$ 78,000$.

Data from Exercises 63

How much will Remy need to contribute per year, after the employer contribution?

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Contemporary Mathematics

ISBN: 9781711470559

1st Edition

Authors: OpenStax

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Question Posted: May 29, 2024 10:00 AM

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Divide the answer to Exercise 63 by 12 to find the monthly contribution Remy will make. Remy

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Contemporary Mathematics

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