To find Jan's monthly and yearly earnings based on the information you've provided, we can use the following steps:
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Determine the monthly earnings from the information given: Jan has 2.5% of her earnings deposited into her retirement plan, and $150 is deposited each month.
Let \( E \) represent her monthly earnings.
According to the information: \[ 0.025 \times E = 150 \]
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Solve for \( E \):
To find \( E \): \[ E = \frac{150}{0.025} \]
Now calculate: \[ E = 150 \div 0.025 = 6000 \]
So, Jan's monthly earnings are $6,000.
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Calculate the yearly earnings:
To find yearly earnings, multiply the monthly earnings by 12: \[ \text{Yearly earnings} = 6000 \times 12 = 72000 \]
Thus, Jan's monthly earnings are $6,000 and her yearly earnings are $72,000.
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