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You decide today to contribute 5% of your monthly salary for your retirement. Your employer pays 100% of your contribution up to 5% of your
You decide today to contribute 5% of your monthly salary for your retirement. Your employer pays 100% of your contribution up to 5% of your monthly salary. Both contributions will be invested in your employer's 401K account. Your monthly salary will remain fixed at $ 2,800.
What is the amount that will be contributed monthly to your 401K? (show your calculations)
a. $ 140
b. $ 280
c. $ 125
d. $ 250
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