If the answer to Exercise 52 is no, then the company contributes half the deposit in the 401 (k). How much will the company contribute annually to the 401 ( \(\mathrm{k}\) ) if this is the case?

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 \(\$ 48,000\).

Data from Exercises 52

Does the answer to Exercise 51 exceed the result from Exercise 50.

Data from Exercises 51

The company will match up to \(5 \%\) of Ruslana's salary, which means half the payment (up to \(5 \%\) of salary) will be contributed by the company. How much is half the necessary payment?