Question

last year elissa contributed $105 per month toward her 401(k) account. If her employer matched 15% of her contributions, what was the total amount contributed to the 401(k) at the end of the year? A. $1162 B. $1575 C. $1449 D. $1442

Answer 1

105(12) = $1,260(.15) = 189
189 is the fifteen percent times the total amount at the end of the year, add it plus the year total, and you have (drumroll please) $1,449 total.

So C. $1,449

Answer 2

The correct answer is option C

Explanation:

The annual amount contributed by Elissa

`= 105 * 12\\= 1260\\`

Amount contributed by Elissa's employer

`= (15)/(100) * 1260\\= 189\\`

The total amount contributed to the 401(k) at the end of the year

`= 1260 + 189\\= 1449\\`

The correct answer is option C