Jason has an opportunity to save $145 per month at an APR of 5.75% in a 401K plan through work. He plans to retire in 15 years. The income taxes are at 26% for him. (1) How much less will Jason receive in take-home pay over the course of his investment with the income tax savings? Review your course materials for help with this calculation. (Express your answer rounded correctly to the nearest cent!) $ (2) Use Excel's FV function to determine how much his investment will be worth when he retires based solely on his contributions. (Express your answer rounded correctly to the nearest cent!) $ (3) How much will Jason have deposited into the account by the time he retires? (Express your answer rounded correctly to the nearest cent!) $
Jason has an opportunity to save $145 per month at an APR of 5.75% in a 401K plan through work. He plans to retire in 15 years. The income taxes are at 26% for him.
(1) How much less will Jason receive in take-home pay over the course of his investment with the income tax savings? Review your course materials for help with this calculation.
(Express your answer rounded correctly to the nearest cent!)
$
(2) Use Excel's FV function to determine how much his investment will be worth when he retires based solely on his contributions.
(Express your answer rounded correctly to the nearest cent!)
$
(3) How much will Jason have deposited into the account by the time he retires?
(Express your answer rounded correctly to the nearest cent!)
$
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