Reece is comparing retirement plans with prospective employers. ABC, Inc., offering a salary of $38000, will match 75 percent of his contributions up to 10 percent of his salary, his maximum contribution. XYZ Company will match 100 percent of his contribution up to 6 percent of salary, but he can contribute up to 15 percent of his income. XYZ Company is offering a $35000 salary. If Reece assumes that he will contribute the maximum amount allowed and keep these first-year retirement funds invested for 30 years with a return of 9 percent, how much would each account be worth? How can he use this information when choosing an employer?
Reece assumes that he will contribute the maximum amount allowed and keep these first-year retirement funds invested for 30 years with a return of 9 percent, the ABC account will be worth $? (Round to the nearest cent.)
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