Matthew ( 4 8 at year - end ) develops cutting - edge technology for SV Incorporated,
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Question:
Matthew at yearend develops cuttingedge technology for SV Incorporated, located in Silicon Valley. In Matthew participates in SVs money purchase pension plan a defined contribution plan and in his company's k plan. Under the money purchase pension plan, SV contributes percent of an employee's salary to a retirement account for the employee up to the amount limited by the tax law. Because it provides the money purchase pension plan, SV does not contribute to the employee's k plan. Matthew would like to maximize his contribution to his k account after SVs contribution to the money purchase plan.
Problem Part a Algo
Assuming Matthew's annual salary is $
Required:
a What amount will SV contribute to Matthew's money purchase plan?
a What can Matthew contribute to his k account in
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