A random sample of 150 adults was given an IQ test. It was found that 78 of them scored higher than 100. Based on this, compute
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Money offered to Michelle per annum in Job A = $1700
Number of years she will work in job A = 5
Percentage of earnings per annum for her retirement plan = 6.60%
Money she will earn will be the simple interest at the end of 5 years.
We know that :
Principal = $1700
Rate = 6.60%
Time = 5 years
Which means :
We also know that :
Amount Michelle will earn at the end of 5 years for her retirement plan :
2261 can be rounded off to 2260.
Therefore, Michelle will earn <u>$2260</u> at the end of 5 years for her retirement plan.