Asher's gross annual income is $43,908 . He is paid monthly and has 6% deducted from his paychecks for his 401k. His employer ma

Question

3 years ago

5

Asher's gross annual income is $43,908 . He is paid monthly and has 6% deducted from his paychecks for his 401k. His employer ma

tches his deduction, up to 4% .
How much is deposited into Asher's 401k each payday ?

A.182.95
B. 292.72
C. 365.90
D. 439.08

Mathematics

1 answer:

Oksanka [162] · Answer 1 · 2022-04-14T03:16:58+03:00

----------------------------------------
Find Monthly Income
----------------------------------------
Gross Annually Income = $43 908
Gross Monthly Income = $43 908 ÷ 12
Gross Monthly Income = $3659

----------------------------------------
Paycheck deducted for 401k
----------------------------------------
6% of $3659
= 0.06 x 3659
= $219.54
----------------------------------------
Employer contribution to his 401k
----------------------------------------
4% of $2659
= 0.04 x 3659
= $146.36

----------------------------------------
Total contribution to his 401k
----------------------------------------
$219.54 + $146.36 = $365.90

----------------------------------------
Answer: $365.90 (Answer C)
----------------------------------------