9. Emily's employer offers a pension plan that calculates the annual pension as the product of the final average salary, the number of of service, and a 2% multiplier. Her years employer uses a graded 5-year vesting formula as shown. After 4 years, Emily leaves her job. Her average salary was $65,000. How much pension will she receive?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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9. Emily's employer offers a pension plan that
calculates the annual pension as the product
of the final average salary, the number of
years of service, and a 2% multiplier. Her
employer uses a graded 5-year vesting formula
as shown. After 4 years, Emily leaves her job.
Her average salary was $65,000. How much
pension will she receive?
Vesting
Percentage
Years
Employed
0%
1
0%
25%
3
50%
75%
Transcribed Image Text:9. Emily's employer offers a pension plan that calculates the annual pension as the product of the final average salary, the number of years of service, and a 2% multiplier. Her employer uses a graded 5-year vesting formula as shown. After 4 years, Emily leaves her job. Her average salary was $65,000. How much pension will she receive? Vesting Percentage Years Employed 0% 1 0% 25% 3 50% 75%
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