SOLUTION: After 30 years Ms Payson is retiring. As part of her employee benefits her school will give her a pension that is based on the average of her three highest salaries while she taugh

Question 1163521: After 30 years Ms Payson is retiring. As part of her employee benefits her school will give her a pension that is based on the average of her three highest salaries while she taught. Her three highest salaries were $55,656, $54,928 and $56,881. They will give her 1.8% of that average for each year teaching.
Calculate Ms. Paysons annual pension rounded to the nearest cent.
Found 2 solutions by solver91311, ikleyn:
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

What is it that you don't understand about this question? What part is giving you difficulty?

John

My calculator said it, I believe it, that settles it

Answer by ikleyn(52915) (Show Source): You can put this solution on YOUR website!
.

People from finance and with any initial / (primary) financial education should understand such problems BETTER than the Mathematics tutors.

Otherwise, for what did they get their financial knowledge ?

It is WE, the Math tutors, should come to YOU, finance students for help with such problems.

Fortunately, we are not obliged to solve such problems (and to ask for help from you . . . )

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