An employer uses a career average formula to determine retirement
An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 5 percent of an employee’s career average salary times the number of years of service. Calculate the annual benefit payment under the following scenarios.
Years Career Average
Worked Salary
30 .......... $ 60,000
33 .......... 62,500
35 .......... 64,000

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