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3. You are 32 years old and earn $82,000 per year and contribute 8% of your salary to your employer's 401 (k) plan. Your employer

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3. You are 32 years old and earn $82,000 per year and contribute 8% of your salary to your employer's 401 (k) plan. Your employer matches 50% of your contributions. If your salary does not change, and you expect the plan to earn 9% annually, how much do you expect to have in the plan at each of the following ages? a. 40 years old $108,520.18 b. 50 years old $406,405.17 c. 60 years old $1,111,607.25 d. 70 years old $2,781,077.06

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