A corporation's pension plan provides a lifetime annual income to its employees upon retirement at age 65. The plan provides 3% for each year of service of the employee's salary upon retirement. Those who retire before 65 have their benefit reduced by 1.6% for each year before 65 that they retire.  Russ retires at age 62 with 23 years of service. If his salary upon retirement is $52,477, what is his annual pension benefit? Round your answer to the nearest dollar.

Q: Consider a credit card with a balance of $8000 and an APR of 21%. If you want to make monthly…

A: According to the given data, find the total amount:

Q: esiree opens an account with one deposit of $6500. She receives a statement twice a year, just after…

A: Given problem is :   Desiree opens an account with one deposit of $6500. She receives a statement…

Q: A retiree invests $8,000 in a savings plan that pays 6% per year. What will the account balance be…

A: Given  invested amount  =  $ 8,000 intrest rate  = 6% per year

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A: We will find out the required value.

Q: A corporation's pension plan provides a lifetime annual income to its employees upon retirement at…

A: Solution

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A:

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A: Brian's balance at the end of his billing cycle=$722 The minimum monthly payment for Brian's credit…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

A:

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: If Jessica borrows $4,500 at 6 7/8% simple interest for 4 years, how much interest will she pay?…

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Q: Henry and his new wife, Meaghan, have disposable income of $192,000 per year. They can get a loan…

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A: A recent high school graduate is taking out a 2,500$ loan to pay for a technical education program.…

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A:

Q: o create a college fund for your child. Suppose you find a fund that offers an APR of 6%. How much…

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Q: A loan is used to purchase a new truck. the total price of the truck

A:

Q: Your company provides a 50% matching toward your retirement. If you deposit $200 each month into a…

A:

Q: You bought a bond with 8% coupon rate, 10 year maturity, and $1000 par value for $1,039 one year…

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Q: A credit card company offers an annual 2% cash-back rebate on all gasoline purchases. If a family…

A: Given:A credit card company offers an annual 2% cash-back rebate on all gasoline purchases. If a…

Q: Self-employed persons can make contributions for their retirement into a special tax-deferred…

A: According to the given information, P=$10000 n=25 years Annual rate=3%=0.03

Q: In April 2014, you could buy a 10-year U.S. Treasury note (“T-note,” a kind of bond) for $10,000…

A: