SOLUTION: On the basis of current legislation, if you earned an average salary of $25,000 over your working life and you retire after the year 2005 at age 62,63, or 64, then your annual So

If you need immediate math help from PAID TUTORS right now, click here. (paid link)
Click here to see ALL problems on Linear Equations And Systems Word Problems

Question 28989:
On the basis of current legislation, if you earned an average salary of $25,000 over your working life and you retire after the year 2005 at age 62,63, or 64, then your annual Social Security Benefit will be $7000, $7500, or $8000, respectively (Social Security Administration, www.ssa.gov). Write a formula that gives annual benefit as a linear function of age of these three ages.
Answer by stanbon(48568) (Show Source):
You can put this solution on YOUR website!
You have three pairs of numbers. You only need two to
determine a linear equation.
Points are (62,7000), (63,7500), (64,8000)
Using the 1st two you have a slope of [500/1]
Using x=63, y=7000, m=500 use y=mx+b to find "b".
7000=500(63)+b
7000=31500+b
b=-24500
Your equation is y=500x-24500
Cheers,
Stan H.