Use the Following Formula to Answer the Indicated Question: Benefit

question 70

Multiple Choice

Use the following formula to answer the indicated question: Benefit amount = Maximum award - 0.6 (Wages in excess of ceiling) Charles is retired and earns $10,000 per year working part-time.He is entitled to a maximum Social Security retirement benefit of $14,000.Social Security regulations allow him to earn $8,000 and still get maximum benefits.If he increases the number of hours he works and thus increases his earnings to $20,000,his total income will increase by

• A)$4,000.
• B)$6,000.
• C)$10,000.
• D)$28,000.

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Definitions:

Hispanic Americans

Refers to individuals in the United States who are descendants of people from countries of Latin America and Spain.

African American

Denotes Americans of African descent, particularly those whose ancestors were enslaved and transported to the United States.

White Americans

Individuals in the United States who identify as having origins in any of the original peoples of Europe, the Middle East, or North Africa.

Asian Americans

Americans of Asian descent, representing a diverse group from East Asia, Southeast Asia, and the Indian subcontinent.