Kathy and Mark Smith believe investing in their retirement is critical. Kathy began investing 20% of each paycheck in a retirement account when she was 20 years old. She has saved four times more than Mark who began saving when he was 35. If their total retirement savings equals $1,450,000, how much are Kathy's and Mark's investments worth?
Kathy and Mark Smith believe investing in their retirement is critical. Kathy began investing 20% of each paycheck in a retirement account when she was 20 years old. She has saved four times more than Mark who began saving when he was 35. If their total retirement savings equals $1,450,000, how much are Kathy's and Mark's investments worth?
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 35P
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Transcribed Image Text:Kathy and Mark Smith believe investing in their retirement is critical. Kathy began investing 20% of each paycheck in a retirement
account when she was 20 years old. She has saved four times more than Mark who began saving when he was 35. If their total
retirement savings equals $1,450,000, how much are Kathy's and Mark's investments worth?
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