Your employer has promised you a pension of $30,000 per year in retirement. How much money...

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Your employer has promised you a pension of $30,000 per year in retirement. How much money must be invested in the pension fund at retirement in order to fully fund your pension for 25 years if the pension fund earns a 6% return in each year? 8 Your employer provides a 401(k) plan with a matching contribution of 7% of your salary if you put in at least 5% of your salary. If your monthly salary is $3650 and you contribute just enough to get the match, then how much money will be added to your account in total over one year? As a self-employed worker you pay FICA taxes at the rate of 15.3% of your earnings. You earned $68910 this year. How much must you pay as your FICA contribution? Your employer has promised you a pension of $30,000 per year in retirement. How much money must be invested in the pension fund at retirement in order to fully fund your pension for 25 years if the pension fund earns a 6% return in each year? 8 Your employer provides a 401(k) plan with a matching contribution of 7% of your salary if you put in at least 5% of your salary. If your monthly salary is $3650 and you contribute just enough to get the match, then how much money will be added to your account in total over one year? As a self-employed worker you pay FICA taxes at the rate of 15.3% of your earnings. You earned $68910 this year. How much must you pay as your FICA contribution?

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1 To calculate the amount of money that must be invested in the pension fund at retirement to fully ... View the full answer