An employee with a salary of $⁢50,000 contributes 6% of their salary to a 401(k) retirement plan. The employer matches 75% of the employee's contribution, up to 5% of the employee's salary. How much will the employer contribute annually?

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Question

Revolt · Accepted Answer

1 dollars comma 875

Practice Test

An employee with a salary of $⁢50,000 contributes 6% of their salary to a 401(k) retirement plan. The employer matches 75% of the employee's contribution, up to 5% of the employee's salary. How much will the employer contribute annually?

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