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When he turned 42, Danny started to contribute to his retirement account by making an annual deposit of $2500, which is matched by his employer
When he turned 42, Danny started to contribute to his retirement account by making an annual deposit of $2500, which is matched by his employer by 150% in an ordinary annuity bearing 9 % interest, compounded semiannually.
If Danny wishes to have a total of $600,000 in his IRA when he retires at 65 years old, how much should be his own annual contribution?
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