We are told that the employer matches 25% of Bianca's contributions to her 401(k). We are also told that Bianca's salary is $50,000 a year, of which she contributed $6000 to her own 401 (k). Her salary is not necessary to solve this, simply knowing how much she put into her 401(k) is enough information.
We can solve for 25% of $6000.
$6000 x 0.25 = $1500.
The employer should contribute $1500 to her 401(k), however, the question also states that they will contribute 25% UP TO $1000. Since 25% of 6000 is greater than 1000, the employer's contribution to the 401(k) will be $1000.
Answer:
its ok
Step-by-step explanation:
Answer:
(i) 7/10
(ii) 3/10
(iii) 1/5
(iv) Rs 40,000
Step-by-step explanation:
The fraction of the salary spent on food = 1/2
The fraction of the salary spent on rented house fee = 1/5
(i) The fraction spent for both food and rental fee = (1/2) + (1/5) = (5 + 2)/10 = 7/10
(ii) The remainder (rest) of the salary = 1 - 7/10 = 3/10
The fraction of the remainder spent for children's education = 1/3
The fraction of the total salary spent for the children's education = (1/3) × (3/10) = 1/10
(iii) The remaining portion deposited in the bank = 1 - (1/10 + 7/10)) = 2/10 = 1/5
(iv) The amount equal to portion of 1/5 of his salary deposited in the bank is Rs 8000
Let <em>x</em> represent his whole salary, we have;
(1/5) × x = Rs 8,000
x = 5 × Rs 8,000 = Rs 40,000
His whole salary is Rs 40,000.
