The figure below gives the monthly Social Security benefits for persons whose benefit would be $1000 at a full retirement age of 66 as a function of the age these beneficiaries start receiving benefits. The figure shows the benefits, y = f (x), as a function of x, for 62 ( x ( 70.

(a) Find f(64) and f(67).

(b) Find f(68) and give its meaning.

(c) Find f (66) - f (62) and gives its meaning.

Monthly benefit amounts differ based on the age you decide to start receiving benefits

This example assumes a benefit of $1,000 at a full retirement age of 66

Transcribed Image Text:

$1,500 $1,320 $1,240 $1,200- $1,160 $1,080 $1,000 $933 S866 $900 $800 $750 $600 $300 63 66 67 64 65 68 69 70 Age you choose to start receiving benefits Monthly beneft amount