Final answer:
It will take Jace 27 years to earn his first million dollars based on his bi-weekly earnings of $1,450.
Step-by-step explanation:
The question is asking to find out how many years it will take Jace to earn his first million dollars if he is earning $1,450 bi-weekly. To calculate this, we first need to determine Jace's annual earnings:
- Jace earns $1,450 every two weeks.
- There are 52 weeks in a year, so there are 26 bi-weekly periods in a year.
- Therefore, Jace's annual income is $1,450 x 26 = $37,700.
Now we want to calculate how many years it will take for Jace to reach $1,000,000 at this rate:
- Divide $1,000,000 by Jace's annual income: $1,000,000 / $37,700 ≈ 26.53.
- Since Jace can't work a fraction of a year, we round up to the next whole number, meaning he needs 27 full years to earn his first million.
Therefore, the correct answer to the question is: 27 years (Option a).