Question

A loan officer makes $15 per hour working 2,000 hours each year. She also gets a fee of $35 for each loan she processes. If she processes 900 loans a year, what are her total earnings?

Answer 1

The answer would be $65000

Answer 2

$61,500

Explanation:

For this problem, we will simply take her hourly wage and multiply that by the hours she worked and take her additional earnings for each loan processed and multiply that by the number of loans she processed.

Consider her hourly wage of $15 per hour. If she worked 2000 hours, then we can say she got paid ($15 * 2000) = $30000 for her work that year.

Consider her processing fee of $35 per loan processed. If she processed 900 loans, then we can say she got paid ($35 * 900) = $31500 for her processed loans that year.

Then, to find her yearly total earnings, we simply add those two values. $30000 + $31500 = $61500.

Thus the loan officer made $61500 that year.

Cheers.