What is the value of the highest average salary

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1. Given the data set contained within Figure 20.4, in conjunction with the aforementioned Tennessee model, answer the following questions:

a. How many service years has I.M. Person completed?

b. What is the value of the highest average salary?

c. What is the financial amount of the anticipated benefit payment?

d. Using the rate associated with the formulae, with respect to the derived expected benefit value, what is the valuation of the investment assuming the tenets of annuity and perpetuity?

For convenience, assume that any pay raises occurred at the beginning of each calendar year.* Repeat problem 1 using the retiree pension program parameters for your state. What similarities and differences are observable regarding the outcomes of the Oklahoma method, Tennessee method, and the method of your state?

Text Book: Economic and Financial Analysis for Criminal Justice Organizations By Daniel Adrian Doss, William H. Sumrall III, David H. McElreath, Don W. Jones.

Reference no: EM13899249

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