Edison's employer matches 20% of Edison's contributions to his 401 (k) plan. If edison's employer contributed $700

Question

Mathematics

Tyrese Sims

6 March, 23:20

Edison's employer matches 20% of Edison's contributions to his 401 (k) plan. If edison's employer contributed $700

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Trinity Walton · Answer 1

Employer matches 20% and contributed $700

so $700 / 0.2 = $3500

so Edison needs to put in his 401 (k) $3500 in order for his employer matches $700 as 20%