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An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 5 percent of an employee s

An employer uses a career average formula to determine retirement payments to its employees. The annual retirement payout is 5 percent of an employees career average salary times the number of years of service. Calculate the annual benefit payment under the following scenarios.
Years Worked: 30,33 and 35
Career Average Salary: $60,000, $62,500 and $64,000

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