human
Holly gets 26 paychecks per year. If she puts $100.00 from every paycheck into her 401K, her company will match that contribution by 6%. How much money has she and her company contributed to her 401k after 1 year?
assistant
How much money does Holly put into her 401k? ** She puts $100.00 into her 401k from every paycheck and she gets 26 paychecks so that’s 100*26 = $<<100*26=2600.00>>2,600.00
How much money does her company contribute? ** Her company matches her $100.00 by 6% so they contribute 100*.06 = $<<100*.06=6.00>>6.00 every paycheck
How much money does her company contribute? ** Over a year, the company contributes $6.00 to her 401k with every paycheck so they contribute 6*26 = $<<6*26=156.00>>156.00
How much money does Holly and her company contribute to her 401k after 1 year? ** Holly puts $2,600.00 into her 401k annually and her company contributes $156.00 annually so she has 2600+156 = $<<2600+156=2756>>2,756 in her 401k
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