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Billy contributes $6,000 per year to his 401(k). His company matches 50% of his contribution. Equity funds are earning 10 percent; bond funds are earning
Billy contributes $6,000 per year to his 401(k). His company matches 50% of his contribution. Equity funds are earning 10 percent; bond funds are earning 4 percent; and money market funds are earning 2 percent. Billy plans to retire in 30 years. If he puts 10 percent in money market funds, 20 percent in bond funds, and the rest in equity funds, he will have $ (to the nearest dollar) in his 401(k) account when he retires in 30 years
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