Susan's annual salary is $50,000. She contributes 10% of her salary to her 401(k) plan; and her employer contributes 6% of her salary to a profit sharing plan. She also contributes $3,000 per year to an IRA. What is Susan's approximate savings rate?

Susan's annual salary is $50,000. She contributes 10% of her salary to her 401(k) plan; and her employer contributes 6% of her salary to a profit sharing plan. She also contributes $3,000 per year to an IRA. What is Susan's approximate savings rate?

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter4: Income Tax Withholding

Section: Chapter Questions

Problem 7QR

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