2. Use wilai yuu Tlave leamcu in tmU from payday lenders: https://www.cashcentral.com/Content/files/CAB_disclosure_for Texas_combined.pdf. Let's suppose that you need to borrow $1000 for a couple of...

Assuming the employee makes 100k per year. 7% is the employees investment, 14% from the employer. 2-1 You start at 27 years old and retire at 60 (33 years ) Average APR of 7% *I need the highlighted question answered

Extracted text: 2. Use wilai yuu Tlave leamcu in tmU from payday lenders: https://www.cashcentral.com/Content/files/CAB_disclosure_for Texas_combined.pdf. Let's suppose that you need to borrow $1000 for a couple of weeks until you get paid. Discuss your options and how you decide where to borrow the money. Part 5 - Saving for Retirement Many of us expect to retire from working life someday in the future. Traditionally, people have saved money to bankroll life beyond a paycheck, including deposits to Social Security. Some people may have a pension (like some police officers, veterans, and Texas school teachers). Others will have savings plans set up by themselves or through an employer. Let's assume that you are saving a fixed amount of money every month (the exact amount is up to you) until you are at least 65 (maybe you plan to work until you are 50 or 70; this is also up to you). Assume an average APR of 7% on the fund(s) you are investing in. Does your employer match your savings up to a certain amount? Maybe you should include that. 1. Find the future value of your fund(s) at the time you retire. Be clear about how much you are saving each month. How much money will you (and your employer) put into the fund(s)? How much interest will the fund(s) earn? What percentage of the future value is interest? 2. Write at least 2 paragraphs about what you have learned in this chapter about saving for retirement and. how it applies to you personally. Other Financial Concerns - Optional Do you have interes