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Your employer offers a 401(k) plan with a 48% match, and you set a goal of retiring in 26 years with an amount of moneywhich

Your employer offers a 401(k) plan with a 48% match, and you set a goal of retiring in 26 years with an amount of moneywhich has the same buying power that 1.6 million dollars has today. If the account earns an annual interest rate of 5.8% and the expected annual rate of inflation is 1.2%, how much should youcontribute each month?

Round your answer to the nearest dollar.

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