Mathematics, 03.03.2020 02:47, SmartKitty

Lonnie’s employer will match up to 5% of his salary in contributions to his 401(k). His starting salary with the company is $2,500 a month, and the company allows him to contribute up to 12% of his salary to his 401(k). What is the minimum amount of his salary that Lonnie should contribute each month to maximize his employer’s matching contribution? A. $12.50 B. $30.00 C. $125.00 D. $175.00 E. $300.00

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Lonnie’s employer will match up to 5% of his salary in contributions to his 401(k). His starting sal...