Answer to Question #18943 in Algebra for Mark
After visiting with Larry Sorenson, a financial planner, the couple became concerned that they were spending too much and not putting enough funds aside for both their child’s future educational needs and their own retirement. David earns $85,000 per year, but with the rising costs of education, their past contributions have left them short of their financial goals.
To estimate the amount of money the Pearson’s need to begin putting away for future security some general information was obtained by their financial planner. The couple felt that the amount of money they currently contribute for retirement through the company’s SEP IRA plan would be sufficient for their retirement needs. What they had
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