An employer offers a 401-K plan under the following terms: Employer will match 60% of all...
An employer offers a 401-K plan under the following terms:
Employer will match 60% of all contributions up to 5%.
If an employee saves 8% of his/her salary, then the employer will match ___ of their salary.
Homework Answers
The employer will match 60 % of employee contribution upto 5%.
The employee has contributed 8% of the salary,
Employer match = 0.60 
0.08
Employer will match 4.8 % of their salary. ( It is less than 5% )
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