An employee serves 37 years before retiring on a pension. His initial salary was 18,000 per year and increased by 4% each year. Assume that the whole year's salary is paid at the middle of each year.

(a) If his pension is 70% of his average annual salary over his entire career, what is his ultimate pension?

(b) If the pension is 2.5% of career average salary multiplied by years of service, what is his ultimate pension?

(c) If his pension is 2.5% of his average salary over the final 10 years he worked, multiplied by his total years of service, then what Is his ultimate pension?

(d) If he contributes 3% of his salary (at the time it is paid), matched by an equal contribution from his employer, to an account earning annual interest at rate i = 0.06, and the accumulated value (at the end of the 37th year of employment) is used to purchase a 20-year annuity-due with annual payments, valued at I=0.06, find the annual payment from the annuity.

(Answer: (a) 27,823 (b) 36,766 (c) 57,639 (d) 19,974)

(HELP WITH SPECIFICALLY D)