Question

Mr. and Mrs. Jones plan on retiring on 70 percent of their pre-retirement earnings. If they earned $47,000 the last year before they retired, how much retirement income do they plan on?
32,900
64,143
79,900
97,043

Answer 1

$32,900

Multiple their current earnings, multiply it by 0.7 (70%), and the result is $32,9000

Answer 2

Answer:

Mr. and Mrs. Jones retirement income will be $32,000

Step-by-step explanation:

Hello, great question. These types are questions are the beginning steps for learning more advanced Algebraic Equations.

According to the question the couples last pre-retirement earnings were $47,000. Since they plan on retiring with 70% percent of their pre-retirement earnings, this means we need to multiply their pre-earnings by 70% in decimal form.

So, the first thing we need to do is turn 70% into a decimal by moving the decimal two digits to the left.

70.0%   ⇔   0.70

Now we multiply 0.70 by $47,000 to find their retirement income.

$r = 47,000 * 0.70$

$r = 32,900$

Finally, we can see that Mr. and Mrs. Jones retirement income will be $32,000

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