What is the maximum that she can contribute into this retirement fund? $fill in the blank 1 b. What would be the company's contribution? $fill in the blank 2 Note: For items c. & d. below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places. c. What would be her weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and a
Samantha Montgomery (age 42) is employed by Canon Company and is paid an annual salary of $62,430. She has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Montgomery: Round your answer to the nearest cent.
a. What is the maximum that she can contribute into this retirement fund?
$fill in the blank 1
b. What would be the company's contribution?
$fill in the blank 2
Note: For items c. & d. below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places.
c. What would be her weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)?
Click here to access the Wage-Bracket Method Tables.
$fill in the blank 3
d. What would be her weekly take-home pay without the retirement contribution deduction?
$fill in the blank 4
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