During a job interview, Pam Thompson is offered a salary of $41,000. The company gives annual raises of 5 percent. What would be Pam's salary during her fifth year on the job?
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- Ms. Adams has received a job offer as an administrative assistant. Her base salary will be $50,000. She will receive her first annual salary payment one year from the day she begins to work. In addition, she will get an immediate $10,000 bonus for joining the company. Her salary will grow at 4 percent each year and each year she will receive a bonus equal to 10% of her salary. Ms. Adams is expected to work for 30 years. What is the present value of the offer if the appropriate discount rate is 10% (EAR)?Rocky is considering a new job that pays $12 per hour for a company subject to the Fair Labor Standards Act. How much can he expect to make for the year if he were to work an average of 42 hours per week? Assume that there are 52 weeks in a year. Give typing answer with explanation and conclusionFred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days…
- Fred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days…Fred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days…Natalie is considering hiring two permanent employees who are paid on an hourly basis plus time-and-a-half for all hours worked in excess of 40 hours per week. She is curious as to how this would affect her company's financial position. She has created some hypothetical payroll data which are presented below. Employee Hours Worked Hourly Rate Cumulative Prior Earnings Federal Income Tax United Fund B. Borke 40 $12 $10,560 $? $8 E. Clarke 50 12 11,440 10 Borke and Clarke are each married and they claim 1 and 2 withholding allowances, respectively. The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages. State income taxes are 4%. (a) Your answer is partially correct. Prepare a payroll register for the hypothetical weekly payroll. Use the tax withholding table in Illustration 13.8 in the text for federal income tax withholdings. Since both employees have exceeded the $7,000…
- This is Salary calculationA union contract specifies that each worker will receive a 5% pay increase each year for the next 30 years. One worker is paid $35,000 the first year. What is this person’s total lifetime salary over a 30-year period?An engineer changed jobs and is signing up for benefits. The company 401(k) includes a low-cost fund that is expected to earn 5.3% annually. The engineer’s employer will contribute up to 2% by matching half the employee contribution. So she will save at least 4% of her salary of $80,000 into the account. She expects her salary to increase 2.5% per year. What is the value of the account after 15 years if she deposits the 4% minimum?
- You are a manager at a high-tech company in Kanata, Ontario. Due to a slow down in the economy, you have decided to lay-off Chelsea Lui at the end of the current bi-weekly pay period (Friday). You will ask her to leave and not return next week. Chelsea has worked for the company for 7.25 years and makes $65,000 per year. Your annual payroll for the company is $4,600,000. Calculate Chelsea's severance pay. Working area Calculate Chelsea's gross pay. Working areaYou are an employee of a large public company, with an annual salary of $75,000. Last year (2019) your supervisor awarded you a bonus of $19,500. You received the bonus with your February 27, 2020 pay. Traveling is part of your job, and your employer provides you with a leased car. You drove the car a total of 43,360 kilometers and all but 8,240 kilometers were for work. The company pays $560 a month (HST is included in this amount) for your car lease and paid $6,300 in 2020 to maintain the car. You had the car available to you for 11 months because you took your one-month vacation. In compliance with company policy, you parked the car in the company’s garage and gave your supervisor the car keys. You are divorced at the age of 30 and a single parent of two children, one aged 6 and the other aged 8. Your children do not have any income of their own in 2020. In 2018 the divorce court judge decided your former spouse must pay you $36,000 a year for child support, plus $1,000 spousal…The mean annual salary for employees at a company is $39,000. At the end of the year, each employee receives a $1000 bonus and a 5% raise (based on salary). What is the new mean annual salary (including the bonus and raise) for the employees?
