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Nate collected Social Security payments of $220 a month in Year 1. If the price index rose from 90 to 108 between Year 1 and Year 2, then his Social Security payments for Year 2 should have been a. $238. b. $264. c. $257. d. $228.

Respuesta :

The social security payment that will be paid in this scenario will be B. $264.

How to calculate the social security payment

From the information given, Nate collected Social Security payments of $220 a month in Year 1 and the price index rose from 90 to 108 between Year 1 and Year 2.

Therefore, the Social Security payments for Year 2 will be:

= 220 × (108/90)

= $264

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