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Irina-Kira [14]
3 years ago
5

Your company has a plan that matches your retirement contributions up to 2% of your salary. Your annual salary is $22,000. You a

re paid bi-weekly (26 times per year). How much should you contribute to the retirement account each pay period to take full advantage of the company match
Mathematics
2 answers:
Sindrei [870]3 years ago
8 0

if it is asking for compound interest the answer should be 36815.2

compound interest formula

A=P(1+r)^t

A=the future value

P=principal

r=annual interest rate (as a decimal)

t=time (in years)

WARRIOR [948]3 years ago
8 0

Answer:

The contribution is $ 16.92\\ per biweekly payment

Step-by-step explanation:

Salary received in each of the 26 \\ pay is

\frac{2}{100} * \frac{22000}{26} \\= 16.92\\

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