Answer:
Herman Melville's annual disability benefit is $46,114.8
Step-by-step explanation:
Given the data in the question;
Herman Melville is 55 years, worked for 20 years, planned to retire in the next 10 years i.e at the age of 65.
so since he planned to work for the next 10 years;
total duration of work will be; ( 20 + 10) years = 30 years
Average salary per year = $76,908
Total salary in 30 years will be; $76,908 × 30 = $2,307,240
Hospital rate benefits = 2%
So, total annual disability benefit will be;
⇒ 2% of Total salary in 30 years
⇒ 2/100 × $2,307,240
= $46,114.8
Therefore, Herman Melville's annual disability benefit is $46,114.8
