Heather is saving for retirement and has been doing a lot of research on how much she should put aside each month. The newest ar ticle says that 1/36 of her salary should be put into a retirement account. If she makes $63,000 a year, how much will she put into her retirement account each month (rounded to the nearest dollar)?
2 answers:
Answer:
C) $145
Step-by-step explanation:
If Heather puts in 1.36% of her salary into a retirement account and she makes $63,000 in a year, this can be solved by 1.36% x 63000.
Convert 1.36% into a decimal. This id done, divide by 100.
1.36/100=0.0136
1.36% x 63000
=0.0136 x 63000
=856.8
Heather would put $856.8 in for the whole year. To find how much per month, divide by 12.
856.8/12=71.4
Rounded to the nearest dollar is $71.
Heather would put $71 into a retirement account each month.
$63 000 ÷ 12
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