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Required information Problem 1 3 - 5 8 ( LO 1 3 - 2 ) ( Algo ) [ The following information applies to the
Required information
Problem LO Algo
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Matthew at yearend develops cuttingedge technology for SV Incorporated, located in Silicon Valley. In Matthew participates in SVs money purchase pension plan a defined contribution plan and in his company's k plan. Under the money purchase pension plan, SV contributes percent of an employee's salary to a retirement account for the employee up to the amount limited by the tax law. Because it provides the money purchase pension plan, SV does not contribute to the employee's k plan. Matthew would like to maximize his contribution to his k account after SVs contribution to the money purchase plan.
Problem Part a Algo
Assuming Matthew's annual salary is $
Required:
a What amount will SV contribute to Matthew's money purchase plan?
a What can Matthew contribute to his account in
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Required A
What amount will SV contribute to Matthew's money purchase plan?
SVs contribution to money purchase plan
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