Question

Last year alvina contributed 85$ per month toward her 401k account if her employer matched 20% of her contributions, what was the total amount contributed to the 401 k at the end of the year?

Answer 1

So, first let's solve for the total amount that Alvina contributed to her 401k account, by multiplying the amount contributed per month ($85) times the number of months (12):
$85*12=1020$
So, Alvina contributed $1020 to her 401k account.

Her employer contributed 20% of that, which we can find by multiplying the amount Alvina contributed by .2:
$1020*.2=204$
So we know that Alvina's employer contributed $204 to her 401k account.

We can add these two numbers to get the total:
$1020+204=1224$
And that's our final answer of $1224 total contributed to the account!

Hope I helped, and let me know if you have any questions! :)