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4.The total of your calculations would equal the amount Sally has contributed for the first two years. As we already know, the company would match employee 401K contributions up to 5% of the gross salary. What is the total amount contributed by the company to Sally’s 401-K account for the first two years?
1.What is Sally’s gross salary on the 3rd year, after a 4.0% raise?
2.Sally was able to up her 401K contribution to 5% at the beginning of her third year. How much has Sally contributed to her 401-K plan during her third year?