The company will match up to (5 %) of Ruslana's salary, which means half the payment (up
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The company will match up to \(5 \%\) of Ruslana's salary, which means half the payment (up to \(5 \%\) of salary) will be contributed by the company. How much is half the necessary payment?
Ruslana wants to use her \(401(\mathrm{k})\) to save \(\$ 1,400,000\) when she retires in 36 years. She assumes the plan will yield \(11 \%\) compounded annually. Her company will match contributions up to \(5 \%\) of annual salary. Her salary is \(\$ 48,000\).
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