You make 85,000 per year and your company matches 50 cents for every dollar you deposit into your 401k plan, up to 8% of your salary.

The question is incomplete, below is a possible match for the complete question:

You make $85,000 per year and your company matches 50 cents for every dollar you deposit into your 401k plan, up to 8% of your salary. Complete parts (a) through (c) below.

(a) If you contribute $200 every month to your 401k, what will your company contribute each month?

The company will contribute $ (Type an integer or a decimal rounded to two decimal places as needed.)

(b) If you contribute $830 every month to your 401k, what will your company contribute each month?

The company will contribute $ (Type an integer or a decimal rounded to two decimal places as needed.)

(c) What is the maximum amount of money the company will contribute to your 401k each year?

The maximum amount that the company will contribute each year is $

(Type an integer or a decimal rounded to two decimal places as needed.)

a.) The company will contribute $100

b.) The company will contribute $415

c.) maximum amount the company will be willing to contribute = $6,800 per year

Step-by-step explanation:

First, let us calculate the maximum amount the company will be willing to pay into the 401k plan yearly:

Annual salary = $85,000

Monthly salary = $7083.3333

maximum amount = 8% = 8/100 = 0.08 of salary

maximum amount = 0.08 × 7083.3333 = $566.67

a.) If you contribute $200 every month.

Since $200 is less than the maximum amount that the company will be willing to contribute, let us calculate how much the company is willing to contribute:

Company matches 50 cents for every dollar you deposit

1 dollar deposited = 50 cents from company

but 1 cent = $0.01

∴ 50 cents = 0.01 × 50 = $0.5

$1 deposited = $0.5 from company

∴ $200 deposited = 0.5 × 200 = $100 contributed by company

Therefore, if you contribute $200 every month, your company will contribute $100 each month.

from this example, we can see that the company is willing to contribute half of every amount you deposit every month ($100 = half of $200), hence, subsequently, we will use this for calculations.

b.) If you contribute $830 every month, the company will be willing to contribute half this amount, which is:

half of $830 = 830 ÷ 2 = $415

Therefore, if you contribute $830 per month, your company will contribute $415 per month.

c.) The maximum amount the company will be willing to contribute each year = 8% of salary per year

=

Therefore, the company will be willing to contribute $6,800 per year.

47

step-by-step explanation:

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: )

step-by-step explanation: