Consider the following salary data, recorded for Junu Kumal. Total years of service, upon retirement = 30 years Average salary, over entire employment = Rs 20,500 Annual salary, year by year, over…

Consider the following salary data, recorded for Junu Kumal.

Total years of service, upon retirement = 30 years Average salary, over entire employment = Rs 20,500 Annual salary, year by year, over last four years before retirement: Year 27 = Rs 28,000; Year 28 = Rs 28,500; Year 29 = Rs 29,000; Year 30 = Rs 30,000

a. Suppose the pension plan uses a flat benefit formula, paying Rs 800 per year of service. Compute Junu's annual pension benefit. b. Suppose the pension plan uses a career average formula. The annual payout is 4 percent of career average salary, times the total years employed. Compute Junu's annual pension benefit. c. Suppose the pension plan uses a final pay formula. The annual payout is 3 percent of the average salary of the last four years times the total years employed. Compute Junu's annual pension benefit.