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You are enrolled in a 401(k) through your employer and your employer agrees to contribute 4 percent of whatever you put into the plan each

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You are enrolled in a 401(k) through your employer and your employer agrees to contribute 4 percent of whatever you put into the plan each year. You want to have $1,500,000 when you retire. If you believe you can earn 10 percent per year on the money invested and plan to retire in 30 years, how much do you have to contribute per year to meet your goal? (Do not round intermediate calculations. Round your final answer to two decimal places. i.e. 2879.73. Do not input commas or a dollar sign with your. answer.) Numeric Response

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