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23 October, 16:19

Danny works for a company that matches his 401 (k) retirement contributions at a rate of "$0.25 per $1" of his contributions, up to 6 % of his salary. Danny earns $50000 /year. Using Doc White's advice, what is the minimum amount of salary that Danny should contribute to his 401 (k) plan each year? A. $50000 /year B. $3000 /year C. $12500 /year D. $12000 /year

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  1. 23 October, 16:32
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    B $3000/year

    Explanation:

    The minimum amount of salary that Danny should contribute to his 401 (k) plan each year = 6% of his annual salary = 6/100 * $50000 = $3000/year
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