Question

question 1 of 10
last year, an automotive technician had a gross income of $32,200, of which she contributed 6% to her 401(k) plan. if she got paid weekly, how much was deducted from each paycheck for her 401(k) plan?

a. $37.15
b. $276.00
c. $80.50
d. $161.00

Explanation:

Step1: Calculate annual 401(k) contribution

The gross income is $32,200, and the contribution rate is 6%. So the annual contribution is $32,200\times0.06 = 1932$.

Step2: Calculate weekly deduction

There are 52 weeks in a year. To find the weekly deduction, divide the annual contribution by 52: $\frac{1932}{52}=37.1538\approx37.15$.

Answer:

A. $37.15