Question
Anita currently has 30 years of service and a final average annual salary of 39,000 over her last five years of employment. She was looking
Anita currently has 30 years of service and a final average annual salary of 39,000 over her last five years of employment. She was looking forward to retirement, but has been offered a promotion. If she continues to work for five more years and increases her average annual salary to 49,000, how will her monthly pension benefit from her defined-benefit plan change? Anita earns an annual pension income of 3 percent for her average annual salary.
If Anita continues to work for five more years and increases her average annual salary to 49,000, the increase in her monthly pension would be $_____? (round to the nearest cent)
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