Ask Question
31 May, 17:08

Last year a construction worker had a gross income $ 29,700, of the which he contributed 7% to his 401 (k) plain. If he got paid monthly how much money would be deducted from each of paycheck for his 401 (k) plan?

A. 173.25

B. 86.63

C. 39.98

D. 297.00

+1
Answers (1)
  1. 31 May, 19:43
    0
    Divide the gross income by 12 to find his monthly pay:

    29,700 / 12 = $2,475 per month.

    Multiply his monthly pay by 7%:

    2,475 x 0.07 = $173.25 into his 401 (k) per month.

    The answer is A.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Last year a construction worker had a gross income $ 29,700, of the which he contributed 7% to his 401 (k) plain. If he got paid monthly ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers