Question

Jelena has just finished her thirty-seventh year with her company and is getting ready to retire. During

her thirty-seven years, Jelena's average annual salary was $53,420. How much can Jelena expect to
receive from Social Security annually if she were to retire today? (Assume she will receive 42% of her
average annual salary.)
e. $224.36
f. $2,243.64
g. $22,436.40
h. $224,364.00

Answer 1

The correct answer is G. $22,436.40

Explanation:

1. Let's review the information given to us to answer the question correctly:

Jelena's average annual salary = $ $53,420

Expected annually pension to receive from Social Security = 42% of her average annual salary

2. How much can Jelena expect to receive from Social Security annually if she were to retire today?

Expected annually pension to receive from Social Security = 42% of her average annual salary

Expected annually pension to receive from Social Security = 53,420 * 0.42 = $ 22,436.40

The correct answer is G. $22,436.40