Question: 5. John is 30 years old now and just started his company 401K retirement program. He decides to put in $580/month and his company will

5. John is 30 years old now and just started his company 401K retirement program. He decides to put in $580/month and his company will match up to $5000 to his account annually. How much money he would have when he retires 60 or 70 years old, given interests rate of 5%? Please calculate both scenarios. (15 points)

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