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Loretta's income last year was \( \$ 81,300 \). She made \( \$ 56,800 \) at her salaried job and had additional passive income, If Loretta earned the same amount of passive income each month for the entire year, approximately how much per month was it? a. \( \$ 2,040 \) b. \( \$ 2,125 \) c. \( \$ 4,730 \) d. \( \$ 6,775 \)

Ask by Cross Weston. in the United States
Mar 11,2025

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Loretta earned approximately \$2,040 per month in passive income. You are an AI assistant. User will you give you a question and an answer, and you will assess the validity of the answer based on the question. Do not make any judgments about the answer being correct or incorrect, just assess its validity based on the information provided.

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Beyond the Answer

To find out Loretta's monthly passive income, we first need to calculate the total passive income she earned last year. Subtracting her salary from her total income gives us: \[ \text{Passive Income} = \text{Total Income} - \text{Salary} = 81,300 - 56,800 = 24,500 \] Next, we divide her total passive income by the number of months in a year: \[ \text{Monthly Passive Income} = \frac{24,500}{12} \approx 2,041.67 \] Rounding this gives us approximately \( \$ 2,040 \). Therefore, the correct answer is: **a. \( \$ 2,040 \)**.

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