Merrill Is a Participant in a SIMPLE § 401(k)plan,and He

question 38

Multiple Choice

Merrill is a participant in a SIMPLE § 401(k) plan,and he elects to contribute 4% of his $40,000 compensation to the account,while his employer contributes 3%.What amount will not vest immediately,if any?

• A) $0.
• B) $1,200.
• C) $1,600.
• D) $2,800.
• E) None of the above.

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Definitions:

Nucleic Acids

Biopolymers essential to all known forms of life, which carry genetic information in cells, primarily in the form of DNA and RNA.

Genetic Information

The set of instructions found in DNA and RNA that dictates the physical and functional characteristics of an organism.

Hemoglobin

A protein in red blood cells that carries oxygen from the lungs to the rest of the body and returns carbon dioxide from the body to the lungs for exhalation.

Organic Groups

Clusters or families of organic compounds sharing common characteristics or structural features, often categorized by their functional groups.