Question

Jan has 7.5% of her earnings Jan has 75% of her earnest deposit into her retirement plan if 300 per month is deposited in the plan find her monthly and yearly earnings

Answer 1

Given

300 per month is 7.5% of Jan's earnings

Find

Jan's monthly and yearly earnings

Solution

300 = 0.075×(monthly earnings) . . . . . given

300/0.075 = monthly earnings . . . . . . divide by 0.075

4000 = monthly earnings

There are 12 months in a year, so Jan's yearly earnings are 12 times her monthly earnings.

... yearly earnings = 12×monthly earnings = 12×4000 = 48,000

Jan's monthly earnings are 4,000.

Jan's yearly earnings are 48,000.