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Social Security and Life Expectancy
The amount of a retiree’s Social Security benefit depends on the retiree’s lifetime earnings. the person’s full retirement age. and the age at the time of retirement. The following function gives the annual benefit in dollars for a person retiring in 2012 at ages 62 through 70 with a full retirement benefit of $12,000 at full retirement age of 66.
a) Graph the benefit function.
b) What is the annual benefit for a person who retires at age 64?
c) At what age does a person receive an annual benefit of $ 14.880?
d) What is the average rale of change of the benefit for ages 62 through 63? Ages 64 through 66? Ages 66 through 70?
e) Do the answers to part (d) appear in the annual benefit formula?
The life expectancy L for a U.S. white male with present age a can be modeled by the formula
L = 67.01660.00308)a.
f) Bob is a white male retiring in 2012 at age 62. What total amount can he be expected to draw from Social Security before he dies? Figure his Social Security benefit using the formula given above.
g) Bill is a white male retiring in 2012 at age 70. What total amount can he be expected to draw from Social Security before he dies? Figure his Social Security benefit using the formula given above.
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Chapter 2 Solutions
EBK COLLEGE ALGEBRA
- Asked this question and got a wrong answer previously: Third, show that v3 = (−√3, −3, 3)⊤ is an eigenvector of M3 . Also here find the correspondingeigenvalue λ3 . Just from looking at M3 and its components, can you say something about the remaining twoeigenvalues? If so, what would you say?arrow_forwardDetermine whether the inverse of f(x)=x^4+2 is a function. Then, find the inverse.arrow_forwardThe 173 acellus.com StudentFunctions inter ooks 24-25/08 R Mastery Connect ac ?ClassiD-952638111# Introduction - Surface Area of Composite Figures 3 cm 3 cm 8 cm 8 cm Find the surface area of the composite figure. 2 SA = [?] cm² 7 cm REMEMBER! Exclude areas where complex shapes touch. 7 cm 12 cm 10 cm might ©2003-2025 International Academy of Science. All Rights Reserved. Enterarrow_forward
- You are given a plane Π in R3 defined by two vectors, p1 and p2, and a subspace W in R3 spanned by twovectors, w1 and w2. Your task is to project the plane Π onto the subspace W.First, answer the question of what the projection matrix is that projects onto the subspace W and how toapply it to find the desired projection. Second, approach the task in a different way by using the Gram-Schmidtmethod to find an orthonormal basis for subspace W, before then using the resulting basis vectors for theprojection. Last, compare the results obtained from both methodsarrow_forwardPlane II is spanned by the vectors: - (2) · P² - (4) P1=2 P21 3 Subspace W is spanned by the vectors: 2 W1 - (9) · 1 W2 1 = (³)arrow_forwardshow that v3 = (−√3, −3, 3)⊤ is an eigenvector of M3 . Also here find the correspondingeigenvalue λ3 . Just from looking at M3 and its components, can you say something about the remaining twoeigenvalues? If so, what would you say? find v42 so that v4 = ( 2/5, v42, 1)⊤ is an eigenvector of M4 with corresp. eigenvalue λ4 = 45arrow_forward
- Chapter 4 Quiz 2 As always, show your work. 1) FindΘgivencscΘ=1.045. 2) Find Θ given sec Θ = 4.213. 3) Find Θ given cot Θ = 0.579. Solve the following three right triangles. B 21.0 34.6° ca 52.5 4)c 26° 5) A b 6) B 84.0 a 42° barrow_forwardQ1: A: Let M and N be two subspace of finite dimension linear space X, show that if M = N then dim M = dim N but the converse need not to be true. B: Let A and B two balanced subsets of a linear space X, show that whether An B and AUB are balanced sets or nor. Q2: Answer only two A:Let M be a subset of a linear space X, show that M is a hyperplane of X iff there exists ƒ€ X'/{0} and a € F such that M = (x = x/f&x) = x}. fe B:Show that every two norms on finite dimension linear space are equivalent C: Let f be a linear function from a normed space X in to a normed space Y, show that continuous at x, E X iff for any sequence (x) in X converge to Xo then the sequence (f(x)) converge to (f(x)) in Y. Q3: A:Let M be a closed subspace of a normed space X, constract a linear space X/M as normed space B: Let A be a finite dimension subspace of a Banach space X, show that A is closed. C: Show that every finite dimension normed space is Banach space.arrow_forward• Plane II is spanned by the vectors: P12 P2 = 1 • Subspace W is spanned by the vectors: W₁ = -- () · 2 1 W2 = 0arrow_forward
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