Thread: Financial Math help
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Old July 5th, 2009, 10:26 AM
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Originally Posted by mehrunesdagon View Post
I am taking some online classes and I need help with understanding these questions. Please give me the formula for solving these problems and if possible the answer so that I can study for my exam. I can't find any help in the book I was given.

You have averaged $57,500.00 for the last five years of work. Your company has agreed to pay you 80 % of the average as your pension. Social security has notified you that you will receive $2100.00a month. What is yourtotal monthly pension?
What is 80% of $57500, that is what your company will pay you per year, divide by 12 to get the monthly payment and then add the $2100 from social security.

CB
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