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16 June, 11:47

A flight attendant makes $35,000 per year and has just begun contributing 9% of his salary to his 401 (k) plan. If his employer matches 8% of his contributions, how much will have been contributed to the 401 (k) plan after 3 years?

A. $3402

B. $9450

C. $10,206

D. $3150

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Answers (1)
  1. 16 June, 12:50
    0
    35000/12 = 2916.67 Per Month

    401 (k) from Salary = ((2916.67 *.09) * 36 = 9450.01

    Employer 8% matching

    9450.01 *.08 = 756.00

    Total:

    9450.01 + 756.00 = 10206.01 or rounded to 10206 = C
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