Sal and Cal both work for the same company making \( \$ 68,000 \) each in annual salary. Sal deposits \( 4 \% \) of her salary to her 401 k plan and the company matche 50 cents for each dollar contributed to the 401 k up to the \( 4 \% \). Cal deposits noth into his 401 k . Complete parts (a) through (c) below. (a) If they are both in the \( 30 \% \) income tax bracket, how much more in taxes will Cal pay than Sal, assuming that all other factors are equal? Cal will pay \( \$ 816 \) more than Sal will pay in income taxes. (Simplify your answer. Do not include the \$ symbol in your answer.) (b) How much will the coinpany contribute to Sals 401 k plan? The company will contribute \( \$ \square \) to Sal's 401 k plan. (Simplify your answer. Do not include the \$ symbol in your answer.)

Employee benefits such as health insurance are important because: * a) They are usually free b) They reduce out-of-pocket costs for essential needs c) They have no impact on financial stability d) They are deducted from gross income

2. Scott borrowed P100 000 from a lending institution that charges a yearly \( 7.2 \% \) simple interest. It takes him two years to pay. How much total interest does Scott need to pay? Solution and onswer:

Assuming continuous compounding, what will it cost to buy a \( \$ 20 \) item in 4 years at the following inflation rates? (a) At \( 3 \% \), the cost will be (b) At \( 6 \% \), the cost will be

What is net income? " a) Total income before taxes b) Total income affer taxes and deduetions e) income from investments only d) Total amount saved

3. Luis' current savings amount to P25 000. He wants to put this amount in an Investment that earns a \( 5.25 \% \) simple interest annually. How much will the maturity value of the money be after 3 years? Solution and answer: