Answer to Question #109612 in Financial Math for Janya

Question

Jason's full social benefit is $2,101 per month . he started collecting social security at age 63 . estimate his monthly benefit if it is reduced by 25%

Answer 1

Intial his benefit is $ 2101 and now his benefit is reduced by 25 %,

his final benefit = initial benefit - 25% of initial benefit,

final benefit = $2101-\frac{25}{100}\times2101=$ $$1575.75$