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You would like to retire in 30 years by investing in your 401(k) plan at work. You make $50,000. Your employer will match dollar for

You would like to retire in 30 years by investing in your 401(k) plan at work. You make $50,000. Your employer will match dollar for dollar up to 5% of what you contribute, so you elect to contribute 5% of your salary to your 401(k). You will make monthly contributions to your 401(k).

After reviewing the 401(k) investment choices, you expect to get a 9.5% return.

Assuming you get no increases in salary in 30 years, how much will you have in your 401(k) in 30 years?

A.

$847,097

B.

$828,982

C.

$952,211

D.

$926,543

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