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You want to have $2,500,000 when you retire and you are in a defined contribution plan. You can eam 8.5 percent per year on the

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You want to have $2,500,000 when you retire and you are in a defined contribution plan. You can eam 8.5 percent per year on the money invested and you wilt retire in 40 years. Your employer also contributes to your plan. The employer will match 50 percent of what you put into the plan each year. How much do you have to contribute per year to meet your goal? \$ (to the nearest dollar)

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