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Johnson works for large corporation with a traditional 401k retirement plan. The company matches 50 cents for each dollar contributed up to 5% of the

Johnson works for large corporation with a traditional 401k retirement plan. The company matches 50 cents for each dollar contributed up to 5% of the employees salary. Johnson currently earns $40,000 in gross salary and he currently contributes $1600 to his 401k each year. a) How much does his employer currently contribute? b) What is max employer contribution c) Is johnson contributing enough to max out his employers contribution? d) What advice would you give Johnson about his contributions?

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