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:3,600

Explanation:

got you

Answer 2

$3600

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* 6\setminus 100= 2400`

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

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

Emily's contribution=
`40000*(12- 6)\setminus 100`

`2400`

contribution made by Employer=
`50`%

`50\setminus 100* 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