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You want to have $1,500,000 when you retire, and you are in a defined contribution plan. You can earn 9 percent per year on the

You want to have $1,500,000 when you retire, and you are in a defined contribution plan. You can earn 9 percent per year on the money invested, and you will retire in 30 years. Your employer also contributes to your plan. The employer will contribute 4 percent of what you put into the plan each year. How much do you have to contribute per year to meet your goal? (Do not round intermediate calculations and round your final answer to two decimal places.)

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