Alice signs up for her employer-based 401(k). The employer matches any 401 (k) contribution up to (6

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Alice signs up for her employer-based 401(k). The employer matches any 401 (k) contribution up to $6 \%$ of the employee salary. Alice's annual salary is $\$ 51,600$.

1. What is the most money that Alice can deposit that will be fully matched by the company?

2. How much total will be deposited into Alice's account if she deposits the full $6 \%$ ?

3. How much return does Alice earn if she deposits exactly $6 \%$ in her 401(k)?

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Contemporary Mathematics

ISBN: 9781711470559

1st Edition

Authors: OpenStax

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Question Posted: May 29, 2024 08:04 AM

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Alice signs up for her employer-based 401(k). The employer matches any 401 (k) contribution up to (6

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Contemporary Mathematics

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