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Scenario B: In 2020, the two bend points for computing Social Security's Primary Insurance Amount (PIA) are $960 and $5,785. This means that in 2020, the benefit formula works in the following way: PIA is given by 90% of the first $960 of AIME, plus 32% of the amount above $960 until $5,785, plus 15% of the amount above $5,785.
Suppose that after a long and successful career, somebody has reached the full benefits age and has average indexed monthly earnings of $6,000. What is their Primary Insurance Amount?
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