Question

In July and August of this year, Jordan worked full time at a local accounting firm. Jordan is a 19 year old accounting student attending a state university, and does not work during the rest of the year. Over the summer, Jordan earned a total of $9,500. How many quarters of coverage has Jordan attained for Social Security purposes based only on this year's earnings?

Answer 1

To determine Jordan's Social Security quarters of coverage, one needs to know the yearly earnings requirement per quarter. Without this, it's not possible to give an exact answer. In 2022, $1,510 earned constituted one quarter of coverage, but the actual requirement may differ for the year in question.

Step-by-step explanation:

The question asks about the number of Social Security quarters of coverage Jordan has earned with $9,500 of income. To determine the number of quarters of coverage, you would need to know the current earnings required per quarter; this value typically changes each year.

However, without the specific earnings requirement for the year in question, an accurate answer cannot be given in this context.

However, as an example, in 2022, one would need to earn $1,510 to get one Social Security credit, also known as a quarter of coverage, and an individual could earn up to four credits per year. If we were using the 2022 figure, Jordan would have earned six quarters of coverage ($9,500 / $1,510 = 6.29, rounded down to the nearest whole number).

This should not be accepted as the actual answer for Jordan because the earnings requirement for the current year is not specified.