Emily's employer matches 25% of her 401(k) contributions — up to $2000. Emily's salary is $40,000, and last year she contributed $5000 to her 401(k) plan. What was her employer's contribution to the 401(k)?
"last year she contributed $5000" "employer matches 25%" which is (25/100)*$5000 = $1250 "up to $2000" means that limit of employer's contribution is $2000. Is $1250 less than or equal to $2000? Yes, so employer contributed $1250 last year.
