Jason earns an annual salary of $50,000. His company matches 50% of his 401(k) contributions up to 6% of his compensation (max 3% company contribution). Jason contributed $5,000 to the plan this year and his company made the matching contribution before the end of the year. The balance of his account at years end was $95,000. What is his savings rate this year?

Group of answer choices

10%

11%

13%

16%