Respuesta :
Answer:
$3500.
Step-by-step explanation:
Let x be the amount contributed by Edison to his 401(k) plan.
We have been given that Edison’s employee matches 20% of Edison’s contributions to his 401(k) plan. Edison’s employer contributed $700 to the plan last year.
To find the Edison's contribution we need to find x such that 20% of x equals 700. We can represent this information in an equation as:
[tex]20\%\text{ of }x=700[/tex]
[tex]\frac{20}{100}*x=700[/tex]
[tex]0.20*x=700[/tex]
Let us divide both sides of our equation by 0.20.
[tex]\frac{0.20*x}{0.20}=\frac{700}{0.20}[/tex]
[tex]x=3500[/tex]
Therefore, Edison contributed $3500 to the plan last year.
