Jayde's gross annual income is $54,002. She is paid biweekly and has 7% deducted from her paychecks for her 403(b). Her employer matches his deduction, to 5%. How much is deposited into Jayde's 403(b) each payday?
Question
Answer:
54002 / 26 = 2077 is a paycheck7% +5% = 12% = 0.12
2077 x 0.12 = 249.24 is deposited each paycheck
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