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Retirement Funding. Barry has just become eligible for his employer-sponsored retirement plan. Barry is 40 and plans to retire at 70. Barry calculates that he
Retirement Funding. Barry has just become eligible for his employer-sponsored retirement plan. Barry is 40 and plans to retire at 70. Barry calculates that he can contribute $3,700 per year to his plan. Barry's employer will match this amount. If Barry can earn a return of 7% on his investment, he will have $699,010 at retirement. How much would Barry have if he could earn a return of 9% on his investment beginning at age 40? If he could earn a return of 9% on his investment beginning at age 40, at retirement, Barry would have $ (Round to the nearest dollar.)
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