At the end of 2020, Elizabeth Regina retired after 19 years of participation in heremployer's defined benefit pension plan. The pension plan provides a benefit basedon 1.5% of her best earnings over three consecutive years. Elizabeth's earningsduring the past seven years are the highest throughout her career. If Elizabethearned $59,000 in 2014, $65,000 in 2015, $70,000 in 2016, $74,000 in 2017,$68,000 in 2018, $73,000 in 2019 and $71,000 in 2020, what will be Elizabeth'sannual pension?$18430$20140$19855$20435

Annual pension refers to an amount which is received from the former employer after completing the…

Answered: At the end of 2020, Elizabeth Regina…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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