Last year, a construction worker had a gross income of 29,700 of which he contributed 7% to his 401 (k) plan. If he got paid mon

Question

4 years ago

6

thly, how much was deducted from each paycheck for his 401 (k) plan?

2 answers:

BaLLatris [955] · Answer 1 · 2021-11-10T11:10:30+03:00

4 0

0.07(29700)/12 = 173.25

iren2701 [21] · Answer 2 · 2021-11-10T12:21:09+03:00

Answer:

The answer is: 173.25

Step-by-step explanation:

The gross income of the construction worker=29700

now he contribute 7% of his income to his 401(k) plan.

the construction worker is being paid monthly.

so, the amount he receives after deduction from each paycheck for his 401(k) plan = 0.07×(29700÷12)

=173.25

Hence,the construction worker is paid 173.25 monthly after his deduction.