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Lynn, an expatriate, joined Company QQQ at age 33. She is currently earning 3600 monthly at age 40, and she will retire at age 60. Her annual increment is projected using the following salary scale table: X 50 Sx 2.06 51 2.15 52 2.22 53 2.27 54 2.31 55 2.36 56 2.42 57 2.89 58 3.00 59 60 3.02 3.02 Lynn has just realized that she entered a defined benefit pension plan when she joined the company. That is, upon retirement, she will receive pension benefits equal to 2% of her final n-year average salary at QQQ for each year of service. Calculate the biggest integer value of n such that the replacement ratio is more than 52%.

Lynn, an expatriate, joined Company QQQ at age 33. She is currently earning 3600 monthly at age 40, and she will retire at age 60. Her annual increment is projected using the following salary scale table: X 50 Sx 2.06 51 2.15 52 2.22 53 2.27 54 2.31 55 2.36 56 2.42 57 2.89 58 3.00 59 60 3.02 3.02 Lynn has just realized that she entered a defined benefit pension plan when she joined the company. That is, upon retirement, she will receive pension benefits equal to 2% of her final n-year average salary at QQQ for each year of service. Calculate the biggest integer value of n such that the replacement ratio is more than 52%.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Lynn, an expatriate, joined Company QQQ at age 33. She is currently earning 3600 monthly at age 40, and she will retire at age 60. Her annual increment is projected using the following salary scale table: X 50 Sx 2.06 51 2.15 52 2.22 53 2.27 54 2.31 55 2.36 56 2.42 57 2.89 58 3.00 59 60 3.02 3.02 Lynn has just realized that she entered a defined benefit pension plan when she joined the company. That is, upon retirement, she will receive pension benefits equal to 2% of her final n-year average salary at QQQ for each year of service. Calculate the biggest integer value of n such that the replacement ratio is more than 52%.
Transcribed Image Text:Lynn, an expatriate, joined Company QQQ at age 33. She is currently earning 3600 monthly at age 40, and she will retire at age 60. Her annual increment is projected using the following salary scale table: X 50 Sx 2.06 51 2.15 52 2.22 53 2.27 54 2.31 55 2.36 56 2.42 57 2.89 58 3.00 59 60 3.02 3.02 Lynn has just realized that she entered a defined benefit pension plan when she joined the company. That is, upon retirement, she will receive pension benefits equal to 2% of her final n-year average salary at QQQ for each year of service. Calculate the biggest integer value of n such that the replacement ratio is more than 52%.
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