Velma currently has a job that pays her $48,000 a year. She is paid twice amonth (on the 5th and the 20th) and wants to start saving for retirement and payoff her credit card.Velma plans to contribute 7.5% of her pre-tax income to her company's 401k.Find how much of each paycheck Velma will be putting into the 401k.If the 401k is compounded semi-monthly at a rate of 3.2%, find the balancein 30 years (when Velma hopes to retire).