question 9 of 10\nlast year, rebecca contributed $95 per month toward her 401(k) account. if her employer…

question 9 of 10\nlast year, rebecca contributed $95 per month toward her 401(k) account. if her employer matched 10% of her contributions, what was the total amount contributed to the 401(k) at the end of the year?\n\na. $1205.00\nb. $1058.10\nc. $1356.60\nd. $1243.20

question 9 of 10\nlast year, rebecca contributed $95 per month toward her 401(k) account. if her employer matched 10% of her contributions, what was the total amount contributed to the 401(k) at the end of the year?\n\na. $1205.00\nb. $1058.10\nc. $1356.60\nd. $1243.20

Answer

Answer:

D. $1243.20

Explanation:

Step1: Calculate Rebecca's annual contribution

Rebecca contributes $95 per month. In a year (12 months), her contribution is $95\times12 = 1140$.

Step2: Calculate employer - match amount

The employer matches 10% of her contributions. 10% of 1140 is $0.1\times1140=114$.

Step3: Calculate total contribution

The total contribution is the sum of Rebecca's contribution and the employer - match. So, $1140 + 114=1243.20$.