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QUESTION

You plan to invest $1,000 per month into your 401(k) beginning next month.

You plan to invest $1,000 per month into your 401(k) beginning next month. If you are 30 years old and will retire at age 67 and the 401(k) return average is 12% annually, how much money will you have at your retirement?

I believe the answer is $8,345,500

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