Charles determined that he needs $1,000,000 in savings when he retires in 30 years. He can earn 12 percent interest on his retirement account and he is in the 25 percent tax bracket. In addition, Charles's employer matches dollar for dollar the money Charles has withheld from his monthly salary to deposit in his retirement account. How much does Charles give up in monthly spendable income to meet his retirement goal?
A) 286
B) 107
C) 143
D) 76
E) None of the answers are correct
B) 107
You might also like to view...
The chapter identifies four ways to measure your a-plus convenience efforts. With such measures you should be able to answer key questions. What are these questions?
What will be an ideal response?
A company does not realize that the last two day's revenue for the month was not recorded. The adjusting entry on December 31 is debit Accounts Receivable and credit Fees Earned
Indicate whether the statement is true or false
Which type of innovation in organizations is the introduction of new or improved operational and work methods?
a. Exploitative b. Organizational structure c. Process d. Product
What type of wholesaler transports a limited line of products directly to customers for immediate inspection and selection?
A. On-site wholesalers B. Cash-and-carry wholesalers C. Rack jobbers D. Truck wholesalers E. Drop shippers