David's salary is $29,512, and he makes 401K contributions. His company will match 100% of the amount he saves up to 6%. How much will his company contribute if he contributes 8% of his salary to his 401K?

A.

$1,700.00

B.

$1,770.72

C.

$1,795.10

D.

$1,825.75

Question

Mathematics

Nickolas Bender

31 December, 07:30

David's salary is $29,512, and he makes 401K contributions. His company will match 100% of the amount he saves up to 6%. How much will his company contribute if he contributes 8% of his salary to his 401K?

A.

$1,700.00

B.

$1,770.72

C.

$1,795.10

D.

$1,825.75

+1

Answers (2)

Know the Answer?

Mohammed Arnold · Answer 1

Mohammed Arnold 31 December, 09:46

0

The answer is D. $1,825.75

Makhi Levine · Answer 2

B. $1,770.72

Step-by-step explanation:

Since David's contribution is more than 6% of his salary, the limit of the company's contributions is 6% of David's salary:

... 6% * $29,512 = $1770.72

David's salary is $29,512, and he makes 401K contributions. His company will match 100% of the amount he saves up to 6%. How much will his company contribute if he contributes 8% of his salary to his 401K?A.$1,700.00B.$1,770.72C.$1,795.10D.$1,825.75

David's salary is $29,512, and he makes 401K contributions. His company will match 100% of the amount he saves up to 6%. How much will his company contribute if he contributes 8% of his salary to his 401K?

A.

$1,700.00

B.

$1,770.72

C.

$1,795.10

D.

$1,825.75