Question

Every year Rick contributes 3% of his annual 32,500) salary to a retirement fund. His company contributes an amount equal to 1% of his salary. What total of all contributions for one year?

Answer 1

Every year Rick contributes 3% of his annual 32,500) salary to a retirement fund =(32.500*3)/100=975

annual personal contribution: 975

His company contributes an amount equal to 1% of his salary =(32.50*1)/100=325

annual company contribution:325

total de toutes les cotisations pour un an : 975+325=1300

Explanation: