Alicia has 7.5 % of her earnings deposited into her retirement plan. If $330 per month is deposited in the plan, find her monthly and yearly earnings. Her monthly earnings are $nothing. (Round to the nearest cent as needed.) Her yearly earnings are $nothing. (Round to the nearest cent as needed.)

Question

Jeffrey Deleon

Business

22 December, 11:32

Alicia has 7.5 % of her earnings deposited into her retirement plan. If $330 per month is deposited in the plan, find her monthly and yearly earnings. Her monthly earnings are $nothing. (Round to the nearest cent as needed.) Her yearly earnings are $nothing. (Round to the nearest cent as needed.)

+2

Answers (1)

Know the Answer?

Erica Le · Answer 1

Answer: Her monthly earnings are $4,400 and her yearly earnings are $52,800.

Explanation:

Hi, to solve this problem you have to calculate the monthly earnings (x) first.

So:

0.075*X = 330

X = 330 : 0.075 = 4400

With this result, you already have the monthly earnings ($4400) of Alicia.

To obtain her yearly earnings, you simply multiply the monthly earnings by 12.

yearly earnings = $4,400 * 12 = $52,800

In conclusion:

Her monthly earnings are $4,400 Her yearly earnings are $52,800.