Determine the approximate earned premium at current (end of 2014) rates for 2013.
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![Accounting
2. You are given the following calendar year earned premium:
CY
2012
2013
2014
Earned Premium
4253
4700
5005
You are also given the following rate changes;
Rate Change
+12.0%
Date
April 1, 2011
September 1,2012
July 1, 2013
+6.0%
+10.0%
Determine the approximate earned premium at current (end of 2014) rates for 2013.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffbf09a18-96b5-4090-bf91-ad152607b735%2Fb1286247-c265-40b6-85e9-8ccdb4e347b9%2Ftkutuy6_processed.jpeg&w=3840&q=75)
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- A 50,000 payment was made on July 9, 2017 find the discounted value and accumulated value on the specified date corresponding to the given rates of interest or discount. Rate of Interest or Discount Date Discounted Value Date Accumulated Value Effective interest rate of 3.24% July 9, 2013 January 9, 2020 Effective discount rate of 4.96% July 9, 2015 April 9, 2018 simple interest rate of 4 2/5% per annum (exact, non-leap year) March 11, 2017 January 26, 2018 simple interest rate of 6 3/4% per annum (banker's rule) February 15, 2017 December 19, 2017 8.4% interest rate convertible quarterly May 9, 2015 June 9, 2018Total outstanding revolving consumer loans from 2016-October 2021 show what trends?An obligation of Php 27,300 is due on Feb. 28, 2017. what is the value of this obligation on November 28, 2014 at 12% compounded semiannually?
- (Postretirement Benefit Expense Computation) Englehart Co. provides the following information about its postretirement benefit plan for the year 2017. Check the below image for information. InstructionsCompute the postretirement benefit expense for 2017Sunland Toothpaste Company initiates a defined benefit pension plan for its 50 employees on January 1, 2020. The insurance company which administers the pension plan provided the following selected information for the years 2020, 2021, and 2022. For Year Ended December 31, 2020 2021 2022 Plan assets (fair value) $50,000 $85,000 $180,200 Accumulated benefit obligation 44,700 165,300 289,100 Projected benefit obligation 60,000 200,400 326,100 Net (gain) loss (for purposes of corridor calculation) 78,800 83,971 Employer's funding contribution (made at end of year) 50,000 60,000 105,100 There were no balances as of January 1, 2020, when the plan was initiated. The actual and expected return on plan assets was 10% over the 3-year period, but the settlement rate used to discount the company's pension obligation was 13% in 2020, 11% in 2021, and 8% in 2022. The service cost component of net periodic pension expense amounted to the following: 2020, $60,000; 2021, $85,000; and 2022, $118,000.…Find the Discounted Value and the Accumulated Value. A 50,000 payment was made on July 9, 2017 find the discounted value and accumulated value on the specifieddate corresponding to the given the rates of interest or discount. Rate of Interest or Discount: effective discount rate of 4.96%Date: July 9, 2015Discounted Value:Date: April 9, 2018Accumulated Value:
- Th e relationship between the periodic pension cost and the plan’s funded status is bestexpressed in which of the following?A . Periodic pension cost of –£483 = Ending funded status of –£4,774 – Employer contributions of £693 – Beginning funded status of –£4,984.B . Periodic pension cost of £1,322 = Benefi ts paid of £1,322.C . Periodic pension cost of £210 = Ending funded status of –£4,774 – Beginning fundedstatus of –£4,984Using the appropriate present value table and assuming a 12% annual interest rate, determine the present value on December 31, 2016, of a five-period annual annuity of $5,000 under each of the following situations: 1. The first payment is received on December 31, 2017, and interest is compounded annually. 2. The first payment is received on December 31, 2016, and interest is compounded annually. 3. The first payment is received on December 31, 2017, and interest is compounded quarterly.Happy Woolly Inc. provides the following information about its postretirement benefit plan for the year 2019. (In Euros) Service cost €90,000 Contribution to the plan €56,000 Actual return on plan assets €2,000 Benefits paid € 40,000 Plan assets at January 1, 2019 €710,000 Defined postretirement benefit obligation at January 1, 2019 €760,000 Accumulated OCI (Loss) at January 1, 2019 100 (Dr-Loss) Discount (interest) rate 9% Required: Compute the postretirement benefit expense for 2019 and give your explanation!
- Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2021 (the end of Beale's fiscal year), the following pension-related data were available: Projected Benefit Obligation Balance, January 1, 2021 Service cost Interest cost, discount rate, 5% Gain due to changes in actuarial assumptions in 2021 Pension benefits paid. Balance, December 31, 2021 Plan Assets Balance, January 1, 2021 Actual return on plan assets (Expected return on plan assets, $48) Cash contributions Pension benefits paid Balance, December 31, 2021 January 1, 2021, balances: Pension asset Prior service cost-AOCI (amortization $5 per year) Net gain-AOCI (any amortization over 10 years) ($ in millions) $ 710 43 84 (33) $804 ($ in millions) $ 660 68 33 (17) (33) $711 ($ in millions) $ 50 25 121At January 1, 2017, Hennein Company had plan assets of $280,000 and a projected benefit obligation of the same amount. During 2017, service cost was $27,500, the settlement rate was 10%, actual and expected return on plan assets were $25,000, contributions were $20,000, and benefits paid were $17,500. Prepare a pension worksheet for Hennein Company for 2017.A perpetuity pays 100 on July 1, 2014. Each payment is made on July 1. The amount of each payment is 2.5% more than the payment the previous year. The modified duration calculated on January 1, 2014 is X. Given an annual effective rate of 5%, calculate X. A B C D E 39.5 40.0 40.5 41.0 41.5
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