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An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 8 percent of the employees career

An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 8 percent of the employees career average salary times the number of years of service. Calculate the annual benefit payment under the following scenarios.

Years Worked Career Average Salary

20 $ 72,000

23 74,500

25 76,000

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