Question: Does the answer to Exercise 51 exceed the result from Exercise 50? Ruslana wants to use her (401(mathrm{k})) to save ($ 1,400,000) when she retires

Does the answer to Exercise 51 exceed the result from Exercise 50?

Ruslana wants to use her $401(\mathrm{k})$ to save $\$ 1,400,000$ when she retires in 36 years. She assumes the plan will yield $11 \%$ compounded annually. Her company will match contributions up to $5 \%$ of annual salary. Her salary is $\$ 48,000$.

Data from Exercises 51

The company will match up to $5 \%$ of Ruslana's salary, which means half the payment (up to $5 \%$ of salary) will be contributed by the company. How much is half the necessary payment?

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