Question

@Becki

Brad is 49 years old and has his retirement savings in a 401(k). If he makes $82,500 annually, what is the maximum percentage of his income that he can contribute to his 401(k) plan per year? (The current maximum contribution limit is $16,500.)

A. 16.5%
B. 30%
C. 20%
D. 100%

Answer 1

What do you think is the answer?

Answer 2

If he makes $82,000 and can only contribute up to $16,500, then find the percentage of his income that max contribution is.

Answer 3

so i divide

Answer 4

its a

Answer 5

Yes, you divide. No, it isn't A.

Answer 6

divide by what?

Answer 7

You want to know what percent of $82,500 the max contribution is, so

max contribution/income

Answer 8

c

Answer 9

That's it. :)

Answer 10

:)