Grant's employer offers a pension plan that calculates the annual pension as the product of the final average salary, the number of years of service, and a 2% multiplier. His employer uses a graded 5-year vesting formula as shown. Grant's starting salary with his company 4 years ago was $80,000. Each year, he received a 2.5% raise. After 4 years, Grant leaves his job. How much pension will he receive?
Years EmployedVesting Percentage
0 .................................. 0%
1 ................................. 10%
2 ................................. 25%
3 ................................. 45%
4 ................................. 70%
5 ................................ 100%