You just graduated and started your new job. Your starting salary is ​$70,000​/year. Your​ employer's 401(k) plan states that your employer will contribute 2​% of your salary to your​ 401(k) and the will match your​ contributions, $1-for​ $1, up to 5​% of your salary. Please answer the following​ questions: 1. How much​ ($) will your employer contribute to your​ 401(k) per year if you make​ $0 contributions.  2. What is the minimum amount​ ($) that you must contribute per year to get the maximum match from your​ employer?

1. An employee plans on working and contributing to his retirement account monthly for 30 years and then plans to live off his retirement savings for the next 27 years. He expects his retirement account to eam an APR of 7.5% compounded monthly. If he wants to make $3000 monthly withdrawals from his account during retirement, how much should he contribute to his retirement account monthly during his working years? 2. An employee plans on working and contributing to his retirement account monthly for 32 years and then plans to live off his retirement savings for the next 35 years. He expects his retirement account to eam an APR of 6.3% compounded monthly. He can afford to make S500 monthly contributions to his retirement account. How much money can he withdraw from the account monthly during the 35 years of his retirement? Hints and Assumptions: i. At the end of the retirement period the account will be empty ii. The PV at the time when retirement begins is the FV goal while working, so…

Suppose that you charged $8430 on a credit card to relocate for your first job. When you realized that the interest rate for the unpaid balance was 27% compounded monthly, he decided not to charge any more on that account. You want to have this account paid off by the end of 3 years, so you arrange to have automatic payments of equal amount sent at the end of each month.(a) What monthly payment must you make to have the account paid off by the end of 3 years? (b) How much total interest will you have paid?

You have been hired as a benefit consultant by Jean Honore, the owner of Sweet Angels. She wants to establish a retirement plan for herself and her three employees. Jean has provided the following information. The retirement plan is to be based upon annual salary for the last year before retirement and is to provide 50% of Jean's last-year annual salary and 40% of the last-year annual salary for each employee. The plan will make annual payments at the beginning of each year for 20 years from the date of retirement. Jean wishes to fund the plan by making 15 annual deposits beginning January 1, 2025. Invested funds will earn 11% compounded annually. Information about plan participants as of January 1, 2025, is as follows. Jean Honore, owner: Current annual salary of $49,990; estimated retirement date January 1, 2050. Colin Davis, flower arranger: Current annual salary of $37.190; estimated retirement date January 1, 2055. Anita Baker, sales clerk: Current annual salary of $20,900;…