Jade will graduate from high school in three years, and by t…

Jade will graduate from high school in three years, and by the time she graduates, she wants to have $5,000 saved up to pay her first year of college tuition. How much money will she need to invest today in an account that earns 7% compounded annually in order to meet her goal?

Alice and Alan have been married for five years and have two…

Alice and Alan have been married for five years and have two children. In 2018, Alice had wages from her programming job of $65,000 and Alan made $20,000 as a part-time accountant. Alice also got an additional $5,000 year-end bonus paid to her on December 24. In 2018, they contributed $10,000 to Alice’s traditional 401k, and $4,000 to Alan’s traditional IRA. What is their 2018 gross income?