Henry is up for retirement after 35 long years at his pharmacy. before retiring, he would like to know how much he would receive each month from social security if he were to retire. during his 35 years, henry averaged an annual salary of $45,620. assuming he would recieve 42% of his annual average each year, how much can henry expect to receive from social security on a monthly basis?
a.
$1,596.70
b.
$1,916.04
c.
$15,967.00
d.
$19,160.40

We are asked to solve for the total amount that Henry can receive from the Social Security System after 35 years of paying his contribution.

It is stated that 42% of his annual average, the solution is  shown below:
Annual average contribution = $ 45, 620
42% of annual contribution = 0.42 * $45,620 = $ 19,160.4

We are asked solve on a monthly basis, hence we have:
Monthly amount = $19, 160.4 /12 months
Monthly amount = $ 1,596.7

The answer is letter "A. $ 1,596.70".