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Business, 12.12.2019 22:31 crybaby222psyc

An employee contributes 9 percent of his salary to his 401(k) plan and the employer matches with 40 percent of the first 6 percent of the employee's salary. the employee earns $90,000 and is in a 28 percent tax bracket. if the employee earns 10 percent on the plan investments, what is his one-year rate of return relative to the net amount of money he invested?

a. 16.28 percent.
b. 51.25 percent.
c. 90.07 percent.
d. 93.52 percent.
e. 29.72 percent

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