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You have just turned 2 2 years old, received your bachelor's degree, and accepted your first job. Now you must decide how much money to
You have just turned years old, received your bachelor's degree, and accepted your first job. Now you must decide how much money to put in your retirement plan. The plan works as follows: Every dollar in the plan earns per year. You cannot make withdrawals until you retire on you th birthday. After that, you can make withdrawals as you see fit. You decide that you will plan to live to and work until you turn You estimate that to live comfortably in retirement, you will need $ per year, starting at the end of the first year of retirement and ending on you th birthday. You will contribute the same amount to the plan at the end of every year that you work. How much do you need to contribute each year to fund your retirement?
Your annual contribution should be $Round to the nearest cent.
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