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Leslie’s employer will match up to 3% of her salary in contributions to her 401(k). Her monthly salary is $3,200, and the company allows her to make contributions to a maximum of 10% of her salary. What is the maximum monthly deposit to Leslie’s 401(k), including her employer’s matching contribution?

Respuesta :

Answer:

$416.00

Step-by-step explanation:

Leslie's 10% and her employer's 3% total 13% of her salary:

0.13 · $3200 = $416

anthougo

The maximum monthly deposit to Leslie’s 401(k) account, including her employer’s matching contribution, is $416.

What is a matching contribution?

A matching contribution is a type of contribution that Leslie's employer decides to contribute to Leslie's 401(k) plan, which is an employer-sponsored retirement plan.

Data and Calculations:

Monthly salary = $3,200

Leslie's maximum contribution = 10% of salary

Employer's matching contribution = 3% of salary

Total contributions to the 401(k) plan = 13% of salary

= $416 ($3,200 x 13%)

Thus, the maximum monthly deposit to Leslie’s 401(k) account, including her employer’s matching contribution, is $416.

Learn more about matching contributions at https://brainly.com/question/16338999

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