Question 17 You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street-sweeper accident. In the trial, doctors testified that it will be five years befor The present value of five years' future salary, You assume the salary will be$60,000per year for the first three years and$72,000per year thereafter.$190,000for pain and sutfering.$35,000tor court costs. Assume the salary payments are equal amounts paid at the end of each month. If the interett rate you choove is an APR of 9 percent, what is the size of the sertlement? Pease round your onwer to four decinal ploces Question 17You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street-sweeper accident. In the trial, doctors testified that it will be five years beforeThe present value of five years' future salary. You assume the salary will be $60,000 per year for the first three years and $72,000 per year thereafter.$190,000 for pain and suffering.$35,000 for court costs.Assume the salary payments are equal amounts paid at the end of each month.If the interest rate you choose is an APR of 9 percent, what is the size of the settlement?Please round your answer to four decimal places

The time value of money (TVM) is a concept that states that the worth of the money in hand today is…

You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street-sweeper accident. In the trial, doctors testified that it will be five years befor The present value of five years' future salary. You assume the salary will be $60,000 per year for the first three years and $72,000 per year thereafter. $190,000 for pain and suffering $35,000 for court costs. Assume the salary payments are equal amounts paid at the end of each month. If the interest rate you choose is an APR of 9 percent, what is the size of the settlement? Please round your answer to four decimal places

You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street-sweeper accident. In the trial, doctors testified that it will be five years befor The present value of five years' future salary. You assume the salary will be $60,000 per year for the first three years and $72,000 per year thereafter. $190,000 for pain and suffering $35,000 for court costs. Assume the salary payments are equal amounts paid at the end of each month. If the interest rate you choose is an APR of 9 percent, what is the size of the settlement? Please round your answer to four decimal places

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter11: Planning For Health Care Expenses

Section: Chapter Questions

Problem 3DTM

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Problem 9-35 (LO. 6) Amber's employer, Lavender, Inc., has a § 401(k) plan that permits salary deferral elections by its employees. Amber's salary is $99,000, and her marginal tax rate is 24% and she is 42 years old. a. What is the maximum amount Amber can elect for salary deferral treatment for 2020? 19,500 v Feedback b. If Amber elects salary deferral treatment for the above amount, how much can she save in taxes? Her tax liability for 2020 would be reduced by $ X . Feedback c. What is the recommended amount that Amber should elect as salary deferral treatment for 2020? 19,500 v.
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Subject: accounting
QUESTION 6 Lisa is enrolled in a defined benefit plan. She has worked 6 years for the plan. Her salaries were $25,000, $30,000, $35,000, $40,000, $45,000, and $50,000. The defined benefit plan allows for a benefit of 3% for every year of service of their average salary for their three highest years. The company uses a 7-year vesting schedule. What annual benefit has Lisa vested? (also known as her taxable benefit) O $3,240 O $1,080 O $6,480 O $540
A brilliant young scientist is killed in a plane crash. It is anticipated that he could have earned $250,000 a year for the next 20 years. The attorney for the plaintiff's estate argues that the lost income should be discounted back to the present at 4 percent. The lawyer for the defendant's insurance company argues for a discount rate of 9 percent. What is the difference between the present value of the settlement at 4 percent and 9 percent? Compute each one separately. Use Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your answers to 2 decimal places.) PV at 4% rate PV at 9% rate Difference $ Present Value 0.00 Prev 1 of 10 MacBook Air Next >
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Mr. Ross has been awarded a bonus for his outstanding work. His employer offers him a choice of a lump-sum of $8,000 today, or an annuity of $2,500 a year for the next four years. Which option should Mr. Ross choose if his opportunity cost is 8%?