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August 23, 2014

Homework Help: mATH part 1

Posted by dEE on Sunday, June 24, 2007 at 8:55pm.

Sally Rogers, an employee of Advanced Ideas, Inc. has a gross salary of $45,000 per year. Her company will match employee 401K contributions up to 5% of the gross salary.
Due to personal financial constraints, Sally is only able to put 2% of her salary into her 401K during her first two years. However, after receiving a 3.5% raise at the end of her first year and a 4.0% raise at the end of her second year, she is able to up her 401K contribution to 5% at the beginning of her third year.

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