Question

jan has 7.5% of her earnings deposited into her retirement plan. if $300 per month is deposited in the plan, find her monthly and yearly earnings

Answer 1

(300/7.5)*100 = $ 4000 per month

12*4000 = $48,000

or do you need to compounded interest monthly??

Answer 2

Hello there

per month it is 4,000 so you multiply 12 and 4,000 you get

the answer is 48,000

thank you

hope this helps

Best Regards Queen Z