Mathematics, 18.03.2020 17:07, idc23

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?

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