How many dollars should they contribute to their each year

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Problem

Peyton's new employer offers a 401(k) plan that has a 100% match up to 9%. They would like to save $3,000/yr of their $43,000 salary for retirement. Get the instant assignment help. Assuming there are no contribution limits for IRAs, how many dollars should they contribute to their 401(k) each year?

Reference no: EM133901447

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