Answer:
$3600
Step-by-step explanation:
Given: Total Salary of Emily=40000
Total contribution of emily=$5000
To Find: Employer's contribution to the 401(k).
Solution:
for the first [tex]6[/tex]% of her salary:
contribution made by Employer=[tex]100[/tex]%
[tex]40000\times 6\setminus 100= 2400[/tex]
Total contribution left=[tex]5000[/tex] - [tex]2400[/tex]=[tex]3600[/tex]
for the next [tex]6[/tex] to [tex](12)[/tex] of her salary:
Emily's contribution=[tex]40000\times(12- 6)\setminus 100[/tex]
[tex]2400[/tex]
contribution made by Employer=[tex]50[/tex]%
[tex]50\setminus 100\times 2400[/tex]
[tex]1200[/tex]
Total contribution left=[tex]2600-2400[/tex]
[tex]200[/tex]
For the rest of contribution Employer will not pay
So,
Total contribution made by emily's Employer in 401(k)=[tex]2400+1200=3600[/tex]
Hence, The total contribution made by Employer is $3600
