Jayde's gross annual income is $54,002. she is paid biweekly and has 7% deducted from her paychecks for her 403(b). her employer matches his deduction, to 5%. how much is deposited into jayde's 403(b) each payday?

$249.24.

Step-by-step explanation:

We have been given that Jayde's gross annual income is $54,002. She is paid biweekly and has 7% deducted from her paychecks for her 403(b).

Let us find Jayde's biweekly income by dividing her annual income by 26 as paid biweekly means paid 26 times a year.

Let us find amount contributed by Jayde for her 403(b) plan by finding 7% of $2077.

Now let us find 5% of $2077 as Jayde's employer matches 5% of total biweekly pay.

Now let us add amount contributed by Jayde and her employer to find total amount deposited into Jayde's 403(b) plan each payday.

Therefore, an amount of $249.24 is contributed into Jayde's 403(b) each payday.

step-by-step :

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