Ashley3279
contestada

Ava's gross biweekly pay is $2240.

To maintain her current way of life, how much should she have saved by the time she retires?

$526,000


$537,600


$582,400


$594,400

Respuesta :

justicehall2002

Biweekly = every other week = 26 times a year

2240 * 26 = $ 58240 gross yearly pay

To maintain her current way of life, Ava should have 10 times the amount she makes per year, so 58240 * 10 = $582,400

Ava should have saved $582400 by the time she retires.

What is Biweekly pay ?

If the payment is done in every other week or once in 2 weeks on a specific day, then this type of payment is called Biweekly pay.

This means payment is done 26 times a year, because a year have 52 weeks and if the payment is done in every other week, then the payment is done [tex]\frac{52}{2}[/tex] times, i.e. 26 times a year.

How to find the saved money of Ava ?

Ava's gross biweekly pay = $2240

Ava's gross yearly pay = 26 times of biweekly pay

                                      = 26×$2240

                                      = $58240

Now, to maintain Ava's current way of life,

Ava should have saved 10 times the amount she makes in a year.

So, Ava should have saved 10×$58240 = $582,400

Hence, The 3rd option $582,400 is correct.

Learn more about Biweekly pay here :

https://brainly.com/question/12477500

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