Most large companies encourage employees to save by matching their con- tributio

Question

Most large companies encourage employees to save by matching their con-tributions to a 401(k) plan. The government limits how much you can savein these plans, because they shelter income rom taxes until the money is withdrawn during your retirement. The amount you can save is tied to yourincome, as is the amount your employer can contribute. The government will allow you to save additional amounts without the tax beneft. Theseplans change rom year to year, so this example is just a made-up “what i.”Suppose the Quality Widget Company has the savings plan described inTable 8.10. Create a unction that fnds the total yearly contribution to yoursavings plan, based on your salary and the percentage you contribute.Remember, the total contribution consists o the employee contributionand the company contribution

Explanation / Answer

clear all; clc; display('Quality Widget Company Savings Plan:'); x=input('What is your yearly income?'); if x30000 & x60000 & x100000; ec=((0.1*60000)+(0.08*(x-60000))); cc=0; end; tc =((ec)+(cc)); disp('The total contribution is:'); disp(tc) (This does not post well but hopefully you are familar enough with the code to input into matlab)

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