Question

Last year, Rachel contributed $105 each month toward her 401 (k) account. If her employer matched 17% of her contributions, what was her total amount contributed to 401 (k) at the end of the year?

Answer 1

17% of 105 is 17.85, so her employer contributed $17.85 per month, that plus her $105 is $122.85, multiply by 12 to get her yearly total which is $1474.20.