Answer:
The answer to this question is $50,000
Explanation:
Solution
From the given question we solve for the vested balance of her profit plan sharing.
Given that:
The Vested Balance of her profit sharing plan = Total amount received in the account
= Contribution received per year*Number of years
= $1000*5 years
= $50000
Therefore the vested balance of her profit sharing plan is 50,000
Answer:
The vested balance of her profit sharing plan is $50,000
Explanation:
In order to calculate the vested balance of her profit sharing plan we would have to make the following calculation:
The Vested Balance of her profit sharing plan = Total amount received in the account
Therefore, Total amount received in the account = Contribution received per year*Number of years
Total amount received in the account= $10,000*5 years
Total amount received in the account= $50,000
The vested balance of her profit sharing plan is $50,000
