Question: Solve the problem. Round to the nearest dollar. Suppose that between the ages of 2 6 and 3 9 , you contribute $ 5 ,

Solve the problem. Round to the nearest dollar. Suppose that between the ages of 26 and39, you contribute $5,000 per year to a401(k) and your employer matches this contribution dollar for dollar on your behalf. The interest rate is 9.25% compounded annually. (a) What is the value of the401(k), rounded to the nearest dollar, after 13years?(b) Suppose that after 13 years of working for this firm, you move on to a new job. However, you keep your accumulated retirement funds in the401(k). How much money, to the nearest dollar, will you have in the plan when you reach age65?(c) What is the difference between the amount of money you will have accumulated in the401(k) and the amount you contributed to the plan?

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