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Retirement Funding. Barry has just become eligible for his employer-sponsored retirement plan. Barry is 35 and plans to retire at 65. Barry calculates that
Retirement Funding. Barry has just become eligible for his employer-sponsored retirement plan. Barry is 35 and plans to retire at 65. Barry calculates that he can contribute $2,600 per year to his plan. Barry's employer will match this amount. If Barry can earn a return of 6% on his investment, he will have $411,103 at retirement. Assuming a return of 6%, how much would Barry have if he could invest an additional $1,240 per year that his employer would match beginning at age 35? If Barry could invest an additional $1,240 per year that his employer would match beginning at age 35, at retirement, he would have $ (Round to the nearest dollar.) .
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