SOLUTION: Is this correct? I want to check my answers. Topic: Financial Mathematics Whitney’s employer contributes to the employees’ 401(k) plans as part of its benefit package. Th

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Question 1180040: Is this correct? I want to check my answers.
Topic: Financial Mathematics
Whitney’s employer contributes to the employees’ 401(k) plans as part of its benefit package. The company will match up to 6% of an employee’s salary. Suppose that Whitney’s salary is $2,800 per month, and she currently contributes 3% of her salary to her 401(k).
Whitney’s employer contributes (3%) of her salary to her 401(k), or ($84) per month. To maximize her employer’s contributions, Whitney should contribute at least (6%) of her salary to her 401(k).

The question is provided in the link here: https://i.imgur.com/u9pusSt.png
Found 2 solutions by MathLover1, ikleyn:
Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!

yes, that is correct, if employer contributes
3% of her salary to her 401(k), or $84 per month. To maximize her employer’s contributions, Whitney should contribute at least 6% of her salary to her 401(k)


Answer by ikleyn(52784) About Me  (Show Source):
You can put this solution on YOUR website!
.

What is written is this post, is NONSENSE.

Incorrectly connected words and notions.


The person who composed this  "problem"  deserves to be ticketed.