A nonprofit organization offers a 5.5% salary contribution to John's 403b plan regardless of his own contributions, plus a matching 5.5% when John contributes 5.5% of his salary. John makes $66,000 a year. What is the amount of the total contribution to his 403b if John contributes 5.5% of his own money?

A nonprofit organization offers a 5.5% salary contribution to John's 403b plan regardless of his own contributions, plus a matching 5.5% when John contributes 5.5% of his salary. John makes $66,000 a year. What is the amount of the total contribution to his 403b if John contributes 5.5% of his own money? Multiple Choice $10,890 $7,260 $11,200 $12,500