Question

for the first 6% of Emily's salary her employer match 100%of her 401(K) contribution, and from 6% to 12%, Emily's employer matches 50%of her 401(K) contributions, Emily's salary is 40,000 and last year, she contributed $5000 to her 401(K) plan. what is her employer's contribution to the 401(K)

Answer 1

Answer:

$3600

Step-by-step explanation:

Given: Total Salary of Emily=40000

 Total contribution of emily=$5000

To Find: Employer's contribution to the 401(k).

Solution:

for the first $6$% of her salary:

  contribution made by Employer=$100$%

                                                        $40000\times 6\setminus 100= 2400$

Total contribution left=$5000$ - $2400$=$3600$

for the next $6$  to $(12)$ of her salary:

  Emily's contribution=$40000\times(12- 6)\setminus 100$

                                     $2400$

  contribution made by Employer=$50$%

                                                         $50\setminus 100\times 2400$

                                                         $1200$

Total contribution left=$2600-2400$

                                      $200$

For the rest of contribution Employer will not pay

So,

Total contribution made by emily's Employer in 401(k)=$2400+1200=3600$

Hence, The total contribution made by Employer is $3600                                  

Answer 2

Answer:

100 % guys

Step-by-step explanation: