What is the total contribution to the account in 2016, Financial Management

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What is the total contribution to the account in 2016

Jennifer, age 54, earns $125,000 annually from ABC Incorporated. ABC sponsors a SIMPLE, and matches all employee deferrals 100% up to a 3% contribution. Assuming Jennifer defers the maximum to her SIMPLE, what is the total contribution to the account in 2016 including both employee and employer contributions?

(a) $15,500.

(b) $16,250.

(d) $19,250.

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Financial Management: What is the total contribution to the account in 2016

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Financial Management: What is the total contribution to the account in 2016

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