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Calculate the annual benefit payment under given scenarios

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Question: An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 5 percent of the employees' career average salary times the number of years of service. Calculate the annual benefit payment under the following scenarios.

Years Worked              Career Average Salary

30                                    $60,000

33                                     62,500

35                                     64,000

Reference no: EM131633345

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