Aflight attendant makes $35,000 per year and has just begun contributing 9% of his salary to his 401(k) plan. if his employer matches 8% of his contributions, how much will have been contributed to the 401(k) plan after 3 years?

a. $3402
b. $9450
c. $10,206
d. $3150

Option C. $10,206

Step-by-step explanation:

A flight attendant makes per year = $35,000

He started contributing to 401(k) plan = 9% of 35,000

                                                              = × 35,000

                                                              = 0.09 × 35,000 = $3,150

His employer's contribution     = 8% of 3,150

                                                  =  0.08 × 3,150 = $252.00

Total contribution to the 401(k) plan in one year =  3,150 + 252 = $3,402

Total contributed in 3 years =  3,402 × 3 = $10,206

$10,206 will have been contributed to the 401(k) plan after 3 years.

4

step-by-step explanation:

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