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Yusef has a defined benefit retirement plan with his company. He has worked for the company for 35 years, but he is ready to retire. His average ending salary is $100,000. His company uses a factor of

Yusef has a defined benefit retirement plan with his company. He has worked for the company for 35 years, but he is ready to retire. His average ending salary is $100,000. His company uses a factor of 0.02 for determining the annual benefits of the retirement plan. How much of an annual retirement benefit should Yusef expect to receive from his company when he retires?

A. $20,000/year  
B. $33,333/year  
C. $70,000/year  
D. $120,000/year

May 13 2021 View more View Less

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