Question

Bob just turned 66 years old and is considering retirement. His average annual salary over the last 35 years is $50,760. Assuming that he will receive 42% of his average annual salary, what will be his annual Social Security benefit?
a.
$2,131.92
b.
$21,319.20
c.
$213,192.00
d.
$2,131,920.00



Please select the best answer from the choices provided


A
B
C
D

Answer 1

B

Calculation: 0.42 × $50,760 = $21,319.20, so choice (b) is correct.