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You have just turned 22 years old, recelved your bachelor's degree, and accepted your frst job. Now you must decide how much money to put

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You have just turned 22 years old, recelved your bachelor's degree, and accepted your frst job. Now you must decide how much money to put into your coltement plan The plan works as follows: Every dollar in the plan bams 7.1% per yoar. You cannot make withdrawals until you retire on your 65 th birthday. Atter that, you can make withdrawals as you see fit You docide that you will plan to live to 100 and work until you turn 65 . You estimate that to live comtortably in retiroment, you will noed 990,000 per yoar, starting at the end of the frat year of retirament and enoing on your 100 , 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 esch year to fund your retirement? Your annal contribution should be 5 (Round to the nearest cont)

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