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Anny’s full retirement age is 66 years and 2 months. Her PIA at full retirement age is $1200. She wants to retire early and receive the benefit at age 63. (a). How many months does she retire earlier than full retirement age (in months).  __________months (b).What's the percentage of reduction in her retirement benefit (in %, keep two decimals if applicable).  __________% (c). What’s her monthly benefit if she retires early and starts to receive the benefit at age 63 (in $, keep two decimals if applicable)?  $_____________

Anny’s full retirement age is 66 years and 2 months. Her PIA at full retirement age is $1200. She wants to retire early and receive the benefit at age 63. (a). How many months does she retire earlier than full retirement age (in months).  __________months (b).What's the percentage of reduction in her retirement benefit (in %, keep two decimals if applicable).  __________% (c). What’s her monthly benefit if she retires early and starts to receive the benefit at age 63 (in $, keep two decimals if applicable)?  $_____________

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Anny’s full retirement age is 66 years and 2 months. Her PIA at full retirement age is $1200. She wants to retire early and receive the benefit at age 63.

(a). How many months does she retire earlier than full retirement age (in months).  __________months

(b).What's the percentage of reduction in her retirement benefit (in %, keep two decimals if applicable).  __________%

(c). What’s her monthly benefit if she retires early and starts to receive the benefit at age 63 (in $, keep two decimals if applicable)?  $_____________

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