posted by really need help... .
Supppose you work for a company that has a 401k plan. Your first-year annual salary is $28,200 and you are contributing 10% of your monthly paycheck onto your 401k.
Write a rule for the amount of money contributed to the plan after "n" months.
Suppose your salary inreases by $1400 each year. Write a rule to describe your salary during the "n"th year.
U need to try and figure it out and then ask if it is right. Jiskha is not a tell u the answer website. It is a try and then ask!! OK!!! Now figure it out then ask and then I will help u!! GOOD LUCK!
well for the first one...i came up with
a sub n= 28,200x(.1) to the (n-1) power
is that right?
yes!!! it is. GREAT JOB!!! See u knew the answer the whole time all u needed to do was to try. If you ever need help again I will be on!!
Ah, your monthly salary is 28,200/12 and it is the monthly, not yearly figure you need for the first part.
Now we all wish it worked by a power law like that but unfortunately it is just the same amount every month
that amount the first month
that again for a total of 2 thats
that a third time for a total of 3 thats
Now do the second part the same way, except now it does indeed go by years.
Again it increases by a constant amount every time period, not by a percentage of the previous amount. That makes it much simpler than it would be otherwise.
okay so if it says ...how much will u have ontributed to the plan after 6 months...should i do:
28,200/12 x (.1)to the n-1 power
or should i not divide by 12?
It is not to the power at all
it is just the number of month times the contribution every month which is 2350 times n
Now the second one is the same theory, again nothing to a power.
first column year
second column salary
1 28,200 salary increases by $1400 each year.
2 28200+ 1400=29600
3 28200+ 2*1400 =31000
4 28200+ 3*1400 =32400