+279 A flight attendant makes $35,000 per year and has just begun contributing 9% of his salary to his 401(k) plan. If his employer matches 8% of his contributions, how much will have been contributed to the 401(k) plan after 3 years?
+36915
Each year 9% +8% of 35 000 gets contributed to the 401K
17% x 35000 x 3 yrs = $17850.
(most employer match usually match your contributions UP to 8% point for point....so if you put in 8% they will 'match' it with 8%....that is what I assumed this question meant.......NOT 8% of what you put in),
+36915 IF your stingy employer ONLY matches 8% of your contribution
the
35000 x .09 x 3 = 9450 x 1.08 = 10206 after 3 years ....I would talk with your employer ! Haha...
