"Jillian has just started her first job with a $58,000 salary at a company with a 401(k) plan that has a 25% match up to 9% of her gross salary. She figures she can afford to save $2,000/yr for her retirement. Based on our ""plan of action for investing"" for retirement, how many dollars of her annual savings should Jillian contribute to her 401(k) each year, assuming there are no contribution limits for IRAS?"
"Jillian has just started her first job with a $58,000 salary at a company with a 401(k) plan that has a 25% match up to 9% of her gross salary. She figures she can afford to save $2,000/yr for her retirement. Based on our ""plan of action for investing"" for retirement, how many dollars of her annual savings should Jillian contribute to her 401(k) each year, assuming there are no contribution limits for IRAS?"
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 3
"Jillian has just started her first job with a $58,000 salary at a company with a 401(k) plan that has a 25% match up
to 9% of her gross salary. She figures she can afford to save $2,000/yr for her retirement. Based on our ""plan of
action for investing"" for retirement, how many dollars of her annual savings should Jillian contribute to her 401(k)
each year, assuming there are no contribution limits for IRAS?"
Question 4
"Gabriella has just started a new job with a $41,000 salary at a company with a 401(k) plan that has a 75% match
up to 6% of her gross salary. She figures she can afford to save $3,000/yr for her retirement. Based on our ""plan
of action for investing"" for retirement, how many dollars of her annual savings should Gabriella contribute to her
Roth IRA each year?"
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