Hello,

Please read it cearlly and answer this qestion step by step.

1- Nicholas is considering borrowing from his Section 401(k) plan, which has a loan provi- sion. What are the requirements for such a loan?

Today is January 1. 2011. Nicholas and Whitney Clement have come to you. a financial fanner, for help in develops a plan to accomplish their financial goal*. From your initial meeting together, you have gathered the following information. Personal Background and Information Nicholas Clement (Age 27) Nicholas is an assistant in the marketing department for Energy Tech, Inc., a small company with 15 employees. His annual salary is $39,000. Whitney Clement (Age 24) Whitney is a legal research assistant with the law firm of Laurent, Heine & Merritt, LLC. Her annual salary is $30,000. The Children Today is January 1. 2011. Nicholas and Whitney Clement have come to you. a financial fanner, for help in develops a plan to accomplish their financial goal*. From your initial meeting together, you have gathered the following information. Personal Background and Information Nicholas Clement (Age 27) Nicholas is an assistant in the marketing department for Energy Tech, Inc., a small company with 15 employees. His annual salary is $39,000. Whitney Clement (Age 24) Whitney is a legal research assistant with the law firm of Laurent, Heine & Merritt, LLC. Her annual salary is $30,000. The Children