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Actuary

salary graphic

AVG. SALARY

$92,020

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EDUCATION

Bachelor's degree

Real-Life Activities

Real-Life Math -- Solution

To find her salary at age 65, you need to use the formula:

Future salary = p x (1 + r)n

Future salary = $30,000 x (1 + 0.04)19

Future salary = $63,205.47

Pension = 70 percent of $63,205.47

Your company will have to plan on paying out $44,243.83 per year for this customer's pension.

"You're working with large sums of money and this money has to be guaranteed," says actuary Wally Robinson.

A person's future depends on it -- your job depends on it.


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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.