Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: Joe makes $60,000 a year and wants to begin saving for his retirement in a 401K account. He can contribute a maximum of 15% of his gross salary each year, and, if he contributes 15%, his employer
will contribute 5% of his salary to his 401K. Joe’s tax rate is 22% of his income, but any money he contributes to his 401K will not be taxed; only the money remaining after he makes his contribution will be taxed. Based on this information, which of the following statements is true? If Joe contributes 15% of his salary to his 401K, he will pay $2,200 less in taxes. If Joe contributes 10% of his salary to his 401K, he will lose more in potential contributions than he saves. In four years Joe will have the equivalent of one year’s salary in his 401K. If Joe contributes the maximum amount he is allowed to his 401K, he will have $12,000 in his 401K account at the end of the first year.
A: This question has not been answered. Can you answer it? Please add your answer below ...
Question
Asked 3/7/2012 11:38:41 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
0 questions answered
Popular Conversations
A person who is lactose intolerant would have difficulty digesting ...
Weegy: A person who is lactose intolerant would have difficulty digesting : Low-fat cheesecake with raspberries. ...
6/16/2017 2:06:32 PM| 1 Answers
To derive energy from food, you must eat foods that contain ...
Weegy: To derive energy from food, you must eat foods that contain carbohydrates, proteins, and fats. User: Which of ...
6/16/2017 2:08:12 PM| 1 Answers
_______________ is a small Buddhist kingdom. ...
Weegy: Bhutan is a small Buddhist kingdom. User: South Asia was part of which supercontinent right before it broke ...
6/20/2017 11:41:02 AM| 1 Answers
You finished cutting up a raw chicken and put it in the oven to cook. ...
Weegy: You finished cutting up a raw chicken and put it in the oven to cook. You should: Run the cutting board and ...
6/19/2017 4:23:18 PM| 0 Answers
Air is passed from the trachea into the lungs through two large tubes ...
Weegy: Air is passed from the trachea into the lungs thought two large tube called bronchi.
6/19/2017 3:43:24 PM| 0 Answers
On a topographic map, contour lines that are farther apart indicate ...
Weegy: On a topographic map, contour lines that farther apart indicate a more gentle slope.
6/20/2017 5:59:29 PM| 0 Answers
A(n) _____ is the act of or process of arriving at a conclusion from ...
Weegy: Inference is the act of or process of arriving at a conclusion from facts or a premise. ]
6/20/2017 5:51:52 PM| 0 Answers
A(n) _____ is a presupposition from which a conclusion is drawn.
Weegy: A premise is a presupposition from which a conclusion is drawn.
6/20/2017 5:51:25 PM| 0 Answers
Browning was accused of self-worship when he wrote a poem that ...
Weegy: Browning was accused of self-worship when he wrote a poem that modeled Tennyson.
6/20/2017 4:31:57 PM| 0 Answers
_____ is the set of assumptions about the organization and its goals ...
Weegy: Organizational culture is the set of important assumptions about the organization and its goals and practices ...
6/20/2017 3:49:57 PM| 0 Answers
Which one of the following choices is most accurate about ...
Weegy: The most accurate statement about fat-soluble vitamins is: They can be stored in the body.
6/16/2017 2:07:19 PM| 0 Answers
High triglycerides increase the risk for which one of the following ...
Weegy: High triglycerides increase the risk for Heart disease.
6/16/2017 2:05:59 PM| 0 Answers
Weegy Stuff
S
L
Points 30 [Total 1371] Ratings 0 Comments 0 Invitations 3 Offline
S
Points 17 [Total 17] Ratings 0 Comments 7 Invitations 1 Offline
S
Points 10 [Total 10] Ratings 0 Comments 0 Invitations 1 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
R
Points 3 [Total 19] Ratings 0 Comments 3 Invitations 0 Offline
S
Points 3 [Total 3] Ratings 0 Comments 3 Invitations 0 Offline
S
Points 2 [Total 2] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 2 [Total 72] Ratings 0 Comments 2 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.