Monthly benefit amounts differ based on the age you decide to start receiving benefits This example assumes a benefit of $1,000 at a full retirement age of 66 $1,500 S1,320 $1,240 $1,160 $1,200 $1,080 $1,000 $900 $750 SOO S866 $933 $600 $300 SO 62 63 64 65 66 67 68 69 70 Age you choose to start receiving benefits Monthly benefit amount
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Social Security The figure on the next page shows
how the monthly Social Security benefits differ
with the age at which a recipient decides to start
receiving benefits. The example shown in this
table is for recipients whose monthly benefit is
$1000 if benefits start being paid at a full retirement age of 66. Note that benefits do not start
being paid before age 62 and that the monthly benefit does not increase if the starting age is after 70.
a. What is the linear
monthly benefit y as a function of age x at which
benefits are started, using only the data points
from 66 to 70?
b. Graph the model and the data points on the same
axes.
c. Is this model an exact model or an approximate
model?
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