Answer:
$2500.
Step-by-step explanation:
Let x be represent the amount contributed by Rachael's to her 401(k) plan.
We have been given that Rachael’s employer matches 16% of Rachel’s contribution to her 401(k) plan. Rachael's employer contributed $400 to the plan a year.
We need to find x such that 16% of x is $400.
[tex]\frac{16}{100}*x=\$400[/tex]
[tex]0.16*x=\$400[/tex]
[tex]\frac{0.16*x}{0.16}=\frac{\$400}{0.16}[/tex]
[tex]x=\$2500[/tex]
Therefore, Rachael contributed $2500 to the plan last year.
