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Danny works for a company that matches his​ 401(k) retirement contributions at a rate of ​"$0.25 per​ $1" of his​ contributions, up to 6​% of his salary. Danny earns ​$50000​/year. Using Doc​ White’s advice, what is the minimum amount of salary that Danny should contribute to his​ 401(k) plan each​ year? A. ​$50000​/year B. ​$3000​/year C. ​$12500​/year D. ​$12000​/year

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princessesther2011

Answer:

B $3000/year

Explanation:

The minimum amount of salary that Danny should contribute to his 401(k) plan each year = 6% of his annual salary = 6/100 × $50000 = $3000/year

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