A typical retirement scheme for state employees is based

Chapter 9, Problem 12

(choose chapter or problem)

A typical retirement scheme for state employees is based on three things: age at retirement, highest salary attained, and total years on the job. Annual retirement allowance where the maximum percentage is 80%. The highest salary is typically at retirement. We define: total years worked retirement age starting age retirement age factor 0.001 (retirement age 40) salary at retirement starting salary all annual raises a. For an employee who started at age 30 in 1973 with a salary of $12,000 and who worked steadily, receiving a $2000 raise every year, find a formula to express retirement allowance, R, as a function of employee retirement age, A. b. Graph R versus A. c. Construct a function S that shows 80% of the employees salary at age A and add its graph to the graph of R. From the graph estimate the age at which the employee annual retirement allowance reaches the limit of 80% of the highest salary. d. If the rule changes so that instead of highest salary, you use the average of the three highest years of salary, how would your formula for R as a function of A change? 13. F