Question

As a retiring employee, Khadijah receives 5% of her average teaching salary for the last five

years she worked. She receives this salary for every year of employment with the company.
Khadijah plans on retiring after 15 years with the school system and then start her own
Corporation. Her salaries for the last five years are $65,000, $70,000, $82,000, $83,000, and
$88,500. Calculate Khadijah's total retirement salary for 15 years.

Answer 1

Explanation:

Average salary = ($65,000 + $72,000 + ... + 88,500 )/5 = $77,100

5% of $77,100 = $3,855

15 years * $3,855/year = $57,825