1. If your tax liability is 25% of your salary of $40,000, a. For every $1 earned, how much goes toward taxes? b. How much of each $1 is take-home pay? c. If you contribute $1,000 to your 401(k) and...

1. If your tax liability is 25% of your salary of $40,000,

a. For every $1 earned, how much goes toward taxes?

b. How much of each $1 is take-home pay?

c. If you contribute $1,000 to your 401(k) and your employer matches $1,000, how much is added to your retirement that year?

d. How much did the $1,000 contribution to your 401(k) affect your take-home pay for the year?

e. What was your immediate return on your investment when you decided to contribute $1,000 to your 401(k)?