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Your Tax Liability Is 30 Percent of Your $60,000 Salary,and

Question 42

Multiple Choice

Your tax liability is 30 percent of your $60,000 salary,and you contribute 7 percent annually to your 401(k) .If your employer contributes $0.50 per dollar up to the first 5 percent of your salary,how much money is being deposited in total to your 401(k) by taking full advantage of the employer match?


A) $2,500
B) $4,500
C) $4,250
D) $5,700

Correct Answer:

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