How much total will need to be added to her account each year to reach her goal?
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How much total will need to be added to her account each year to reach her goal?
Ruslana wants to use her \(401(\mathrm{k})\) to save \(\$ 1,400,000\) when she retires in 36 years. She assumes the plan will yield \(11 \%\) compounded annually. Her company will match contributions up to \(5 \%\) of annual salary. Her salary is \(\$ 48,000\).
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