Check me please for mistakes
1 answer:
You might be interested in
Answer:
(9) $339076.60 (10) $72000 (11) $220800
Note: Kindly find an attached copy of the complete question given below. i solved for 9,10,11 only.
Step-by-step explanation:
Solution
Given that:
Betty set aside $200/month
With a 401 (k) savings
t = 40 years
APR = 5.4%
Now we find the balance in her account after 40 years.
Now,
A = PMT [(1 +r/n)^nt -1]/(r/n)
A = 200 [ (1 + 0.054/12)^(12)(40) - 1]/(0.054/12)
A= $339076.60
(10) Recall that:
t = 40 years
Per month deposit = $150 dollar
The total deposit becomes
t = 40 * 12 = 480 Month
Total deposit = 480 * 150
=$72000
(11) Now we find the less money she received in her paychecks
Thus
Without monthly saving paycheck is =$2300
Now,
For 40 years becomes = $2300 * 40 * 12
=$1,104000
So,
20% of tax deducted = 20/100 * $1,104000
=$220800
Therefore the less amount received in 40 years is $220800
Note:( My research for the complete question was from quiz let, chegg)
