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After graduating from IU, you are hired by a company that offers a 401(k) retirement plan. You would like to save enough in this plan so that when you retire in 35 years you have an account balance of $1 million. You plan to make monthly contributions, and expect an annual return of 4%, compounded monthly. How much should you contribute each month to reach your goal?

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Financial Management, Finance

Category:- Financial Management
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