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Calculate the annual benefit payment

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Reference no: EM132719944

An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 4 percent of an employee's career average salary times the number of years of service. Calculate the annual benefit payment under the following scenarios.

Years Worked Career Average Salary

30 $55,000

33 62,000

35 64,000

Reference no: EM132719944

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