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[ The following information applies to the questions displayed below. ] Matthew ( 4 8 at year - end ) develops cutting - edge technology
The following information applies to the questions displayed below.
Matthew at yearend develops cuttingedge technology for SV Inc., located in Silicon Valley. In Matthew participates in SVs money purchase pension plan a defined contribution plan and in his companys k plan. Under the money purchase pension plan, SV contributes percent of an employees salary to a retirement account for the employee up to the amount limited by the tax code. Because it provides the money purchase pension plan, SV does not contribute to the employees k plan. Matthew would like to maximize his contribution to his k account after SVs contribution to the money purchase plan. Leave no answers blank. Enter zero if applicable.
Assuming Matthews annual salary is $
a What amount will SV contribute to Matthews money purchase plan?
a What can Matthew contribute to his k account in
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