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Pierre makes $65,000 per year and has just begun contributing 9% of his salary to his 401(k) plan. If his employer matches 20% of his contributions, how much will have been contributed to the 401(k) plan after 3 years? O A. $7020 OB. $17,550 O C. $39,000 O D. $21,060

Pierre makes $65,000 per year and has just begun contributing 9% of his salary to his 401(k) plan. If his employer matches 20% of his contributions, how much will have been contributed to the 401(k) plan after 3 years? O A. $7020 OB. $17,550 O C. $39,000 O D. $21,060

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pierre makes $65,000 per year and has just begun contributing 9% of his salary to his 401(k) plan. If his employer matches 20% of his contributions, how much will have been contributed to the 401(k) plan after 3 years? A. $7020 OB. $17,550 O C. $39,000 O D. $21,060
Transcribed Image Text:Pierre makes $65,000 per year and has just begun contributing 9% of his salary to his 401(k) plan. If his employer matches 20% of his contributions, how much will have been contributed to the 401(k) plan after 3 years? A. $7020 OB. $17,550 O C. $39,000 O D. $21,060
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