david’s salary is $29,512, and he makes 401k contributions. his company will match 100% of the amount he…

david’s salary is $29,512, and he makes 401k contributions. his company will match 100% of the amount he saves up to 6%. how much will his company contribute if he contributes 8% of his salary to his 401k?\n(1 point)\n○ $1,700.00\n○ $1,770.72\n○ $1,795.10\n○ $1,825.75

david’s salary is $29,512, and he makes 401k contributions. his company will match 100% of the amount he saves up to 6%. how much will his company contribute if he contributes 8% of his salary to his 401k?\n(1 point)\n○ $1,700.00\n○ $1,770.72\n○ $1,795.10\n○ $1,825.75

Answer

Explanation:

Step1: Identify match cap percentage

The company matches up to 6% of salary.

Step2: Calculate 6% of David's salary

$$\text{Company contribution} = 29512 \times 0.06$$ $$= 1770.72$$

Answer:

B. $1,770.72