The Norfolk Company has ten employees each earning 20000 per year Four of the

The norfolk company has ten employees each earning

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75. The Norfolk Company has ten employees each earning $20,000 per year. Four of the employees participate in a company-sponsored SIMPLE. Each participating employee contributes the maximum amount to a SIMPLE account. Under the matching plan, over a five-year period, what are the maximum and minimum amounts the company can contribute? 76. The Norfolk Company has ten employees each earning $20,000 per year. Four of the employees participate in a company-sponsored SIMPLE. Each participating employee contributes the maximum amount to a SIMPLE account. If nonelective contributions are made by the employer, what amount must Norfolk Co. contribute over five years? 77. Arthur and Phyllis Graham would each like to contribute the maximum amount to Roth IRAs. They are married and will file jointly. They have wages of $127,000 and interest and dividends of $54,000. What amount may each contribute?
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