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Johnson works for a large corporation with 401k retirement plan. The company matches dollar for dollar for the first 5% of the employees salary contributed
Johnson works for a large corporation with 401k retirement plan. The company matches dollar for dollar for the first 5% of the employees salary contributed to the 401k. Johnson currently earns $40k in gross profit salary and he currently contributes 15% of his salary into his 401k.
A. How much does his employer currently contribute?
B. what is the maximum contribution?
C. What should Johnson do to increase total contributions?
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