eileen has ​2.5% of her earnings deposited into her retirement plan. If ​$330 per month is deposited in the​ plan, find her monthly and yearly earnings.

Question

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Part 1
Her monthly earnings are ​$
  
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Answer 1

To find her monthly earnings, we can use the relationship between the amount deposited in her retirement plan and the percentage of her earnings.

If 2.5% of her earnings is equal to $330, then her monthly earnings would be:

(100% / 2.5%) * $330 = $13,200.

So her monthly earnings are $13,200.

Part 2
To find her yearly earnings, we can multiply her monthly earnings by 12.

$13,200 * 12 = $158,400.

So her yearly earnings are $158,400.