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United Steel provides pensions to its employees. An individual pension is 2.3% of the

employee's average salary for the last five years of employment times the number of

years the employee worked for the company. Juan DeMarco worked for 30 years for

United Steel.

The annual salaries he received for his last five years were: $ 93,000, $ 94,000, $ 98,000,

$ 94,000, and $102,000.

What will his annual pension be?

1 Answer

2 votes

Answer:

$66,378.

Explanation:

Average salary for the last 5 years = (93000+94000+98000+94000+102000)

/ 5

= $96,200

So his pension = 96,000 * 0.023 * 30

= $66,378.

User R Poon
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