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linear equation for the annual benefit in terms of age

56. If you earned an average of $25,000 over your working life and you retire after 2005 at age 62, 63, or 64, then your annual Social Security benefit will be $7,000, $7500, or $8000 respectively (www.ssa.gov). There is a linear equation that gives the annual benefit b in terms of age a for these three years. Find the equation.

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Assume the equation is b=am+c

Now we substitute (62, 7000), (63, 7500), (64, 8000) into the ...

Solution Summary

The solution explains how to find the linear equation that relates the annual benefit after retirement with age in detail.