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avatar+190 

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?

 Feb 25, 2019
 #1
avatar+18942 
+1

 

 

 

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),  

 Feb 25, 2019
edited by ElectricPavlov  Feb 25, 2019
 #2
avatar+18942 
+1

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...

 Feb 25, 2019
 #3
avatar+103120 
+1

EPs first answer is more realistic.....the second answer matches what is asked

 

Pick your poison....!!!

 

cool cool cool

 Feb 25, 2019
 #4
avatar+190 
+1

Thank you guys

 Feb 25, 2019

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