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What is the social security full monthly benefit payment given the following information?

Individual person is at full retirement age.

Indexed Maximum Average Annual Allowable Earnings = $108,789

Indexed Actual Average Annual Earnings = $116,710

Indexed Annual Allowable Earnings = $99,049

All values are based on 35 highest earnings years.

Monthly Benefit Formula:

First $826 of monthly earnings at a Rate of 90%

Next $4,054 of monthly earnings at a Rate of 32%

Monthly earnings above $4,880 at a Rate of 15%

A. $2,768

B. $2,663

C. $2,547

D. $1,783

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92370262

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