Answer:
An employee's funds grow tax deferred in the plan. They don't pay taxes on investment earnings until they withdraw their money from the plan. An employee will pay income taxes and possibly an early withdrawal penalty if they withdraw their money from the plan.
Explanation:
I hope this helps. :D
A budget is <span>an estimate of income and expenditure for a set period of time. The reason that it is important to a human services organization is to see how well you spend your money, how mature you are with the money you get, do you spend it on stupid expensive stuff when you see that other stuff is cheaper. They just want to see how well you keep track of your money and how mature you are with it!! Hope this helped</span>
Answer:
Loan principal amount = $19,700
Bank M:
Interest rate charges = 7.1% compounded monthly
Loan will be paid off in = Five years
Bank N:
Interest rate charges = 7.8% compounded monthly
Loan will be paid off in = Four years
From the above information, we would recommend that Maria choose her loan from Bank M if she wants a lower monthly payments and Maria choose her loan from Bank N if she wants a lower lifetime cost.
