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Douglas Kerr's employer will match his contribution to a . The matching amount will be a dollar-for-dollar match not to exceed of his salary. In 2004, Douglas's salary was . If he contributed , what would be the total amount contributed to the plan? What would be the total amount contributed to the plan if he contributed ?
Solution
VerifiedAnswered 1 year ago
Answered 1 year ago
Step 1
1 of 5We need to determine what would be the total amount contributed to the plan if he contributed or .
We are given that his employer will match his contribution dollar-for-dollar but not exceed of his salary which is .
How to calculate the total amount contributed?
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