OpenStax, Contemporary Mathematics §6.7 Investments · Example 13 · Arithmetic · Money & interest

Investments · Example 13

Alice signs up for her employer-based 401(k). The employer matches any 401(k) contribution up to 6% of the employee salary. Alice’s annual salary is $51,600.

(a) What is the most money that Alice can deposit that will be fully matched by the company?
(b) How much total will be deposited into Alice’s account if she deposits the full 6%?
(c) How much return does Alice earn if she deposits exactly 6% in her 401(k)?

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OpenStax, Contemporary Mathematics · §6.7 Investments · Example 13

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