You plan to begin contributing each pay period to your employers 401k plan at the beginning of the month in which you turn 25. You will be paid twice a month. Your salary is $52,800 and your employer will match your contribution up to 4% of your salary. You can contribute more, but your employer stops at 4%. You decide to contribute 6% of your salary, making contributions each pay period that include both your and your employers portions. How much will you have saved for retirement if you earn 6.4% over time and you retire at age 65? Assume the same salary over the years.

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