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Falco offers its employees a defined contribution plan. The company matches employee contributions at 50% up to 5% of salary. Steve works for Falco, and

Falco offers its employees a defined contribution plan. The company matches employee contributions at 50% up to 5% of salary. Steve works for Falco, and he earns an annual salary of $54,935. Suppose Steve decides to contribute $150 per month to his retirement account. What is the total contribution to his retirement account each year? O $625.00 O $2,700.00 O $3,173.38 $7,500.00

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