## [answered] Betty earns \$100,000 per year. Her company provides a match

Betty earns \$100,000 per year.? Her company provides a matching contribution in a 401k plan of 50% up to a maximum of 4%.? Her 401k account had \$60,000 at the beginning of the year.? She contributed \$15,000 this year and the employer made the matching contribution.? The ending balance is \$100,000.? What is her rate of return on investments this year?

The company provides a matching contribution to the 401(k) plan of 50% of her contribution

up to a maximum contribution of 4% of compensation.

Maximum Contribution by employer = 4%*100000 = \$ 4000...

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This question was answered on: Sep 18, 2020

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