Caleb's annual salary is $45,000 per year.His employer matches 75% of his 401k contributions up to 10% of his annual salary.Caleb contributes $250 from each biweekly paycheck to his 401k account.What is the combined total of his annual contribution and his employer's contribution?

401k Contributions

401k contributions are pre-tax or post-tax money individuals contribute to their 401k retirement savings plan, often matched by their employer to some extent.

Biweekly Paycheck

A payment method where employees receive wages every two weeks, resulting in 26 paychecks per year.