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Thank you in advance! - Phil plans to make annual 401K contributions...

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Finance

Thank you in advance! image
- Phil plans to make annual 401K contributions for 30 years and expects to earn 12%. Prior to retirement, Phil will reduce his risk and earn 5% on his 401K for 5 additional years with no annual contributions. Phil then plans to retire and draw $50,000 per year for 10 years. The interest rate will be 3% during retirement. How much money should Phil contribute to his 401K every year

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