Question 304696: . If you earned an average of
$25,000 over your working life and you retire after 2005 at
age 62, 63, or 64, then your annual Social Security benefit
will be $7000, $7500, or $8000, respectively.
There is a linear equation that gives the annual benefit b in terms of age a for
these three years. Find the equation.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! If you earned an average of
$25,000 over your working life and you retire after 2005 at
age 62, 63, or 64, then your annual Social Security benefit
will be $7000, $7500, or $8000, respectively.
There is a linear equation that gives the annual benefit b in terms of age a for
these three years. Find the equation.
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Pick two points:
(0,7000),(1,7500)
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slope: 500/1
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Form: y = mx + b
7500 = 500*1+b
b = 7000
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Equation:
Benefit = 500(x)+7000 where "x" is the number of years after age 62
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Cheers,
Stan H.
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