question 11 (4.5 points) retake question\nyou plan to deposit $37,150 into a savings account that has a…

question 11 (4.5 points) retake question\nyou plan to deposit $37,150 into a savings account that has a 6.82% interest rate compounded annually. what will be the balance of your savings account after 9 years?\nuse this formula:\n$a = p(1+\frac{r}{n})^{nt}$\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer\nquestion 13 (4.5 points) retake question\nyour gross pay is $2,241.64 on a biweekly basis. your deductions are listed below.\n. 10% withholding for federal income tax\n. 7.65% for social security and medicare taxes\n. $121.96 health insurance cost (pre - tax)\n. $100 contribution to a 401(k) retirement fund (pre - tax)\nwhat is your biweekly net pay?\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer

question 11 (4.5 points) retake question\nyou plan to deposit $37,150 into a savings account that has a 6.82% interest rate compounded annually. what will be the balance of your savings account after 9 years?\nuse this formula:\n$a = p(1+\frac{r}{n})^{nt}$\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer\nquestion 13 (4.5 points) retake question\nyour gross pay is $2,241.64 on a biweekly basis. your deductions are listed below.\n. 10% withholding for federal income tax\n. 7.65% for social security and medicare taxes\n. $121.96 health insurance cost (pre - tax)\n. $100 contribution to a 401(k) retirement fund (pre - tax)\nwhat is your biweekly net pay?\nenter the dollar amount rounded to the nearest cent.\nyour answer:\nanswer

Answer

Explanation:

Step1: Identify values for Question 11

$P = 37150$, $r=0.0682$, $n = 1$, $t = 9$

Step2: Substitute into compound - interest formula

$A=37150\times(1+\frac{0.0682}{1})^{1\times9}=37150\times(1 + 0.0682)^{9}$ $A=37150\times(1.0682)^{9}$ $(1.0682)^{9}\approx1.83797$ $A = 37150\times1.83797\approx68270.58$

Step3: Identify deductions for Question 13

Federal income tax deduction: $0.1\times2241.64 = 224.164$ Social Security and Medicare deduction: $0.0765\times2241.64=171.48546$ Total pre - tax deductions: $121.96 + 100=221.96$ Total deductions: $224.164+171.48546 + 221.96=617.60946$

Step4: Calculate net pay for Question 13

Net pay: $2241.64−617.60946\approx1624.03$

Answer:

Question 11: $68270.58$ Question 13: $1624.03$