Emily's employer matches 25% of her 401(k) contributions — up to $2000. Emily's salary is $40,000, and last year she contributed

Question

lord [1]

2 years ago

13

Emily's employer matches 25% of her 401(k) contributions — up to $2000. Emily's salary is $40,000, and last year she contributed

$5000 to her 401(k) plan. What was her employer's contribution to the 401(k)?

English

2 answers:

Anon25 [30] · Answer 1 · 2022-07-04T20:01:26+03:00

Anon25 [30]2 years ago

3 0

"last year she contributed $5000" "employer matches 25%" which is (25/100)*$5000 = $1250 "up to $2000" means that limit of employer's contribution is $2000. Is $1250 less than or equal to $2000? Yes, so employer contributed $1250 last year.

Crazy boy [7] · Answer 2 · 2022-07-04T21:06:46+03:00

Crazy boy [7]2 years ago

3 0

Answer:

$1250

Explanation: