Question

Janna’s gross annual income is $46,020. She is paid weekly and has 7% deducted from her paychecks for her 403(b). Her employer matches her deduction, up to 5%. How much is deposited into Janna’s 403(b) each paycheck?

A) $61.95
B) $123.90
C) $619.50
D) $106.20

Answer 1

D) $106.20

Explanation:

Answer 2

It is D) $106.20

46020 / 52 (because she's paid weekly) = 885
7% + 5% = 12%
885 x .12 = 106.2