Question: Solve this problem for a Topics in Quantitative Reasoning class ( MAT 1 6 1 ) At the age of 2 9 , Sarah is

Solve this problem for a Topics in Quantitative Reasoning class

(

MAT

161)

At the age of

29,

Sarah is hired by the New York State of Labor. Sarah is planning to build a retirement fund using a payroll deduction from her paycheck every two weeks.Sarahs goal is to build a fund that yields $

230000

a year in interest after she retires at age

75 .

Sarahs retirement fund has a APR of

5.7 % .

What is the minimum balance required to meet her goal? Round to the nearest dollar. $

________

How much she Sarah have deducted from each paycheck to meet that goal? Round to the nearest dollar.$

_________

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