Question: Does the answer to Exercise 59 exceed the result from Exercise 58? Remy wants to use his 401 (k) to save ($ 1,750,000) when he

Does the answer to Exercise 59 exceed the result from Exercise 58?

Remy wants to use his 401 (k) to save $\$ 1,750,000$ when he retires in 30 years. He assumes the plan will yield $10.4 \%$ compounded annually. His company will match contributions up to $6 \%$ of annual salary. His salary is $\$ 78,000$.

Data from Exercises 59

The company will match up to $6 \%$ of Remy's salary, which means half the payment (up to $6 \%$ of salary) will be contributed by the company. How much is half the necessary payment?

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