Question

Sally has just finished her thirty-fifth year with her company and is getting ready to retire. During her thirty-five years, Sallys average annual salary was 45,603 How much can Sally expect to receive from Social Security annually if she were to retire today?

a. $191.53
b. $1,915.33
c. $19,153.26
d. $191,532.60

Answer 1

$19153.26

Explanation:

Here is the complete question: Sally has just finished her thirty-fifth year with her company and is getting ready to retire. During her thirty-five years, Sallys average annual salary was 45,603 How much can Sally expect to receive from Social Security annually if she were to retire today? (Assume she will receive 42% of her average annual salary.)

Given: Sally´s average salary while working is $45603.

Sally will receive 42% of her average annual salary as social security.

Now, finding annual income of sally after retirement.

Sally´s income from social security after retirement=
`(42)/(100) * 45603= \$ 19153.26`

∴ Sally receive $ 19153.26 annually from social security.