Question

Last year ratchel contributed $105 each month toward her 401(k) account. If her employer matched 17% of her contribution,what was the total amount contributed to the 401(k) at the end of the year?

Answer 1

Amount she contributed
105×12 months = 1260

Her employers contributions per month
0.17×105=17.85

Amount contributed for the year
17.85×12=214.2

The total amount contributed to the 401(k) at the end of the year is
1,260+214.2=1,474.2

Hope it helps!