Question

Last year preston contributed 125 towards his 401(k) account each month. if his employer matched 14% of his contributions, what was the the total amount contributed to 401(k) at the end of the year

Answer 1

125 each month = 125 * 12 = 1500 per yr
his employer matched 14%...0.14(1500) = 210
total amount = 1500 + 210 = 1710 <==