Question

choose the correct response (6 points)
gilbert’s employer matches 12% of gilbert’s contributions to his 401(k) plan. if gilbert’s employer contributed $600 to the plan last year, how much did gilbert contribute to the plan last year?

choice
a. $4400
b. $5000
c. $5000
d. $7200

options: a, b, c, d

Explanation:

Step1: Define Variables

Let \( x \) be Gilbert's contribution. The employer matches 12% of \( x \), so the employer's contribution is \( 0.12x \).

Step2: Set Up Equation

We know the employer contributed $600, so \( 0.12x = 600 \).

Step3: Solve for \( x \)

Divide both sides by 0.12: \( x=\frac{600}{0.12}=5000 \).

Answer:

C. $5000