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11 January, 12:58

A personal trainer makes $25,000 per year and has just begun contributing 6% of his salary to his 401 (k) plan. If his employer matches 9% of his contributions, how much will have been contributed to the 401 (k) plan after 4 years?

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  1. 11 January, 13:13
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    6% of $25,000 is $1,500 a year

    9% of $1,500 is $135 that his employer gives him

    The total of that is $1,635 a year

    $1,635*4=$6,540 total after 4 years
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