Questions from Financial Algebra

Q: Sara works for the City of Northbeck. The city calculates an

Sara works for the City of Northbeck. The city calculates an employee’s pension according to the following formula. • Determine the average of the highest 3 years of annual earnings. • Determine the...

Q: The Merrick Oaks School District offers their employees the following annual pension

The Merrick Oaks School District offers their employees the following annual pension benefit. First 15 Years of Service ……………………………………………. Service in Excess of 15 Years 2.12% multiplier …………………………………...

Q: Pedro is retiring after working for 27 years at a major bank

Pedro is retiring after working for 27 years at a major bank. The company offers him a flat monthly retirement benefit of $55 for each year of service. What will his monthly pension be?

Q: The Gray family is moving into a new home and they are

The Gray family is moving into a new home and they are using a wooden ramp to roll furniture over the stairs at the entrance. The ramp, AB, is shown over the staircase in the diagram. a. How far is...

Q: Write the pre-split market cap formula in cell B5 and

Write the pre-split market cap formula in cell B5 and the post-split market cap formula in C5. The ratio for the split is entered in cells B2 and C2. For example, the ratio of 2-for-1 would be enter...

Q: Janet is retiring after working for a major department store for 20

Janet is retiring after working for a major department store for 20 years. The company offered her a flat retirement benefit of $50 per year for each year of service. a. What was her monthly income i...

Q: Integrated Technologies offers employees a flat pension plan in which a predetermined

Integrated Technologies offers employees a flat pension plan in which a predetermined dollar amount (multiplier) is multiplied by the number of years of service to determine the monthly pension benefi...

Q: Martina’s employer offers an annual pension benefit calculated by multiplying 2.

Martina’s employer offers an annual pension benefit calculated by multiplying 2.35% of the career average salary times the number of years employed. Here are Martina’s annual salaries over the last 24...

Q: The Morning Sun offers employees 1.65% of the average

The Morning Sun offers employees 1.65% of the average of their last 3 years of annual compensation for each year of service. Ramon began working for the Morning Sun in 1994. He retired in 2016. In 201...

Q: Office Industries uses a final average formula to calculate employees’ pension benefits

Office Industries uses a final average formula to calculate employees’ pension benefits. The calculations use the salary average of the final 4 years of employment. The retiree will receive an annual...