Amanda K.

asked • 05/29/16

I'm terrible at Math, someone please help me!

Wayne is 37 years old and has his retirement savings in a 401(k). If he makes $110,000 annually, what is the maximum percentage of his income that he can contribute to his 401(k) plan per year? (The current maximum contribution limit is $16,500.)
A. 16.5%

B. 30%

C. 15%

D. 12%

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