Question

Amanda will be 21 years old when she graduates. if the mean annual wage of her career is $35,240.00, what will her lifetime earnings be when she retires at the age of 60?

a. $7,400,400.00
b. $1,374,360.00
c. $5,678,325.00
d. $2,114,400.00

Answer 1

Amanda's lifetime earnings when she retires at the age of 60 will be $1,374,360.00.

Step-by-step explanation:

To calculate Amanda's lifetime earnings, we need to multiply the mean annual wage by the number of years she will work. Since Amanda will retire at the age of 60 and be 21 years old when she graduates, she will work for a total of 60 - 21 = 39 years. Multiplying the mean annual wage of $35,240 by 39 gives us $35,240 * 39 = $1,374,360.00. Therefore, Amanda's lifetime earnings when she retires will be $1,374,360.00.