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just olya [345]
2 years ago
7

Mickey is 40 years old and has his retirement savings in a 401(k). If he makes $55,000 annually, what is the maximum percentage

of his income that he can contribute to his 401(k) plan per year? (The current maximum contribution limit is $16,500.)
Mathematics
2 answers:
LiRa [457]2 years ago
8 0

Answer:

30%.

Step-by-step explanation:

We have been given that Mickey makes $55,000 annually and the current maximum contribution limit to 401(k) plan is $16,500. We are asked to find the maximum percentage Mickey can contribute of his 401(k) plan.

To find the maximum contribution percentage, we need to figure out $16,500 is what percent of $55,000.

\text{The maximum contribution percentage}=\frac{\$16,500}{\$55,000}\times 100

\text{The maximum contribution percentage}=0.30\times 100

\text{The maximum contribution percentage}=30\%

Therefore, Mickey can contribute 30% of his annual income to his 401(k) plan at maximum.

alexdok [17]2 years ago
7 0
The answer will be 30%
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1/9

Step-by-step explanation:

There are three places and three people.

Times them together for the total outcomes:

1/3 x 1/3= 1/9

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2 years ago
Chadwick bought 50 shares of Chipotle stock on Nov 1, 2016 for $396.33 share. He sold the shares four years later, with the per
scoray [572]

Answer:

Step-by-step explanation:

Given the following :

Number of shares purchased (2016) = 50

Purchase price of shares $396.33 per share

Closing price per share four years later = $778.38

A) What did Chadwick pay for all of the shares in 2016?

Purchase price per share × number of shares.

$396.33 × 50 = $19,816.50

B) What was the closing value of all of the shares four years later?

Closing price per share × number of ahaf

=$778.38 × 50

= $38,919

C.) Profit on stock :

$(38,919 - 19,816.50)

= $19,102.5

D) What is his rate of return on his shares when he sold them?

(Current Purchase - initial value) /current price

(778.3 - 396.33) / 396.33

= (381.97 / 396.33) 100%

= 0.9637675

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3 0
2 years ago
Which equation has the solutions x = 1 plus-or-minus StartRoot 5 EndRoot?
Sophie [7]

Answer:

The quadratic equation is x^2-2x-4

Step-by-step explanation:

We want to know the equation that has the solution below;

x = 1 ± √5

This means x = 1 + √5 or 1 - √5

The equation would thus be;

(x-1-√5)(x-1+ √5)

= x(x-1+ √5)-1(x-1+ √5)-√5(x-1+ √5)

Opening the brackets we have ;

x^2-x+ √5x-x + 1 -√5-√5x+ √5-5

collecting like terms we have;

x^2-2x+1-5

= x^2-2x-4

6 0
2 years ago
The positive difference between the two roots of the quadratic equation $3x^2 - 7x - 8 = 0$ can be written as $\frac{\sqrt{m}}{n
Sergio [31]

3x² - 7x - 8 = 0

We're asked about square roots so we won't try to factor; we'll go right for the quadratic formula,

x = ( 7 ± √(7² - 4(3)(-8))    )/(2(3)) = (7 ± √(49+96))/6 = 7/6 ± √145/6

145 = 5×29, so no square factors.  The positive difference is

d =  (7/6 + √145/6) - (7/6 - √145/6) = 2√145/6 = √145/3

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Answer: 148

3 0
2 years ago
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To make a profit, a clothing store sells jeans at 115% the amount they paid for them. How much did the store pay for the jeans s
Svetllana [295]

Answer:

The store paid 6.67 times the profit made on the jeans

Step-by-step explanation:

Let the amount the clothing store pay for Jean be X

Let the amount the clothing store sells Jean be Y = X ×1.15

The profit (P) made is the difference between amount the clothing store sells Jean and the amount paid for Jean = Y - X = 1.15X - X

Profit (P)  = 0.15X

X =  P/0.15 = 6.67P

Therefore, the store paid 6.67 times the profit made on the jeans

8 0
2 years ago
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