Calculate employers contributions

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Reference no: EM13970996

A company contributes 11% of total compensation into Profit Sharing Plans on the basis of Age Weighted Plan. It uses 8% as interest factor and pays the following compensation to its three employees: Elizabeth (age 55): $175,000; Santiago (age 41): $125,000 and Jennifer (age 28): $60,000. The retirement age for these employees is 65 years. Calculate employer’s contributions for Jennifer.

A. 6600

B. 1323

C. 30789

D. 7488

Reference no: EM13970996

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