## Jelena has just finished her thirty-seventh year with her company and is getting ready to retire. During her thirty-seven years, Jelen

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

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3 months 2022-02-19T05:21:30+00:00 1 Answer 0 views 0

The correct answer is G. \$22,436.40

Step-by-step 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