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Michelle is an employee of Queen, Inc. Queen offers its employees a traditional 401(k) plan. Queen matches 100% of employee contributions of the first
Michelle is an employee of Queen, Inc. Queen offers its employees a traditional 401(k) plan. Queen matches 100% of employee contributions of the first 5% of compensation and 50% of employee contributions on up to the next 5% of employee contributions. Michelle earned $84.600 during 2021 and elected to contribute 9% of her compensation ($7,614) to her plan. How much will Queen contribute to the plan for Michelle? O $5.499 O $7,614 $3,807 O $6,345 $5,922
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