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Dean Has Earned $70,000 Annually for the Past 4½ Years

question 34

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Dean has earned $70,000 annually for the past 4½ years working as an architect for MWC. Under MWC's defined benefit plan (which uses a 5-year cliff vesting schedule) employees earn a benefit equal to 3.5% of the average of their three highest annual salaries for every full year of service with MWC. What is Dean's vested benefit (orannual benefit he has earned so far) ?

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Definitions:

Structuralists

Psychologists who analyze the basic elements of thoughts and sensations to understand the structure of the mind, associated with Wilhelm Wundt and Edward Titchener.

Introspection

The examination or observation of one's own mental and emotional processes.

Conflicting Reports

Situations where different sources provide information that is inconsistent or contradictory with one another.

Leipzig

A city in Saxony, Germany, significant for its cultural heritage and historical importance in music, publishing, and as a center for trade fairs.

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