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pay from retirement income. Exercise: Assume you accept a job and commit to contributiong $10,000 each year at the end of every year to

pay from retirement income. Exercise: Assume you accept a job and commit to contributiong $10,000 each year at the end of every year to a 401k retirement plan. Assume an average rate of return of 8% and you start at age 24 and would like to retire in 40 years. How much will be in the retirement fund? How much did you contribute? How much did the fund earn?

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