8. If your tax liability is 25% of your salary of $40,000, (LO 11-5) a. For every...

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8. If your tax liability is 25% of your salary of

$40,000, (LO 11-5)

a. For every $1 earned, how much goes toward taxes?

b. How much of each $1 is take-home pay?

c. If you contribute $1,000 to your 401(k) and your employer matches $1,000, how much is added to your retirement that year?

d. How much did the $1,000 contribution to your 401(k) affect your take-home pay for the year?

e. What was your immediate return on your investment when you decided to contribute $1,000 to your 401(k)?

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Personal Finance Building Your Future

ISBN: 9780077861728

2nd Edition

Authors: Robert Walker, Kristy Walker

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Question Posted: Jul 26, 2024 04:02 AM

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8. If your tax liability is 25% of your salary of $40,000, (LO 11-5) a. For every...

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Personal Finance Building Your Future

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