You are serving on a jury. A plaintiff is suing the city for Injuries sustained after a freak street sweeper accident. In the trial, doctorstestified that it will be five years before the plaintiff is able to return to work. The jury has already decided in favor of the plaintiff. Youare the foreperson of the Jury and propose that the Jury give the plaintiff an award to cover the following: (a) The present value of twoyears' back pay. The plaintiff's annual salary for the last two years would have been $41,000 and $44,000, respectively. (b) The presentvalue of five years' future salary. You assume the salary will be $48,000 per year. (c) $100,000 for pain and suffering. (d) $20,000 forcourt costs.Assume that the salary payments are equal amounts paid at the end of each month. If the Interest rate you choose is an 8% EAR, whatis the size of the settlement? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign inyour response.)Size of the settlementIf you were the plaintiff, would you like to see a higher or lower Interest rate?O Higher Interest rateO Lower Interest rate

To solve this problem, you need to understand the concept of the time value of money and how to…

Answered: You are serving on a jury. A plaintiff…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A life insurer issued a special endowment insurance policy to a life aged 35, with term 5 years. The death benefit payable at the end of the year of death, is equal to £1, 000 plus the reserve that would have been held at the end of the year had the policyholder been alive. The maturity benefit (benefit paid at maturity if the policyholder still alive) is £1, 000. The premium is £200, payable annually in advance. The basis is AM92 ultimate life table and the interest is 4% per annum. (a) Find the reserve just before the payment of the 3rd premium by using the recursive relation between reserves. (b) Find the policy value at issuance using the same recursive method as above. (c) Explain why your answer to (b) is not consistent with the equivalence principle and give two examples of how this may have arisen.
Consider the following bargaining problem: Two siblings Naa and Nii have to have Gh20 million they inherited from their parents between them. Naa gets to make an initial offer. Nii then gets to respond by either accepting Naa's initial offer or offering a counter offer. Finally, Naa can respond by either accepting Nii's offer or making a final offer. If Nii does not accept Naa's final offer both Nii and Naa get nothing. Nii discounts the future at 10% (i.e., future earnings are with 10% less than current earnings) while Naa discounts the future at 20%. Calculate the Nash equilibrium of this bargaining problem.
Personal Earnings. Beverly is presented with four different offers, which one would you recommend her to choose for making the highest equivalent hourly rate? O a. Base monthly salary of $1,000.00 and 2.00% commission on first $120,000.00 of sale and 3.50% commission on remining sale (expected monthly sale is $250,000.00) with 40 weekly workhours O b. Base weekly salary of $250.00 and 2.50% commission on first $200,000.00 of sale and 4.00% on remaining sale (expected monthly sale is $250,000.00) with 40 weekly workhours O . Weekly salary of $2,000.00 with 40 weekly workhours O d. Monthly salary of $8,000.00 with 40 weekly workhours
Two students in a microeconomics class traveled to a football game just before the midterm and drank too much to be able to study. So they telephoned their professor and lied to him, saying that a flat tire had delayed them. "No problem," said the professor. "Take the test tomorrow." When they arrived, the professor put each student in a separate room for taking the test. The first question, worth 5 points, was easy. The second question was worth 95 points: "Which tire?" Calculate, for each student, the expected test score.
Steven and Donna have been married for 35 years. Both are in great health, but they feel it is time that they start planning for their future health needs. Steven is 60 years old, and Donna is 61 years old. They have been approached by a long-term care insurance salesperson who is offering the following insurance product: . . . . Annual maximum benefit: $67,200 or 80% of annual cost, whichever is less. Daily maximum benefit: $187 or 80% of daily cost, whichever is less. Billing cycle: 360 days. Premium for policy with 180-day elimination period: $3,248. Premium for policy with 90-day elimination period: $3,696. Premium for policy with 30-day elimination period: $4,256. Steven and Donna are interested in possibly purchasing one of these policies. Use the following information to help them analyze which policy may be the best alternative, The current annual cost of a good nursing care facility in their area is $91,440, They have $28,000 saved in a money market savings account, $11,200 in…
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RunHeavy Corporation (RHC) is a corporation that manages a local band. It had the following activities during its first month. RHC was formed with an investment of $11,900 cash, paid in by the leader of the band on January 3 in exchange for common stock. On January 4, RHC purchased music equipment by paying $2,300 cash and signing an $9,600 promissory note payable in three years. On January 5, RHC booked the band for six concert events, at a price of $2,800 each, but no cash was collected yet. Of the six events, four were completed between January 10 and 20. On January 22, cash was collected for three of the four events. The other two bookings were for February concerts, but on January 24, RHC collected half of the $2,800 fee for one of them. On January 27, RHC paid $3,440 cash for the band’s travel-related costs. On January 28, RHC paid its band members a total of $2,490 cash for salaries and wages for the first three events. As of January 31, the band members hadn’t yet been paid…
(d) The business manager works with the ADTF legal department and with representatives for the supplier. They reach the following agreement on compensation: at the end of day 7, the supplier will pay a refund of $4.39 per lamp for all lamps that are still not working at the end of that day. To determine the total amount of the refund payment, we must compute the total number of lamps that are working at the end of day 7, rounded to a whole number of lamps. We begin by computing L(7). L(7) ~ (round to 1 decimal place) According to our model, 7 days after the delivery, the corporate office of ADTF Distributors has delivered, there are When a total of new energy efficient lamps in full working order. This means, out of the original (to the nearest cent). that are still defective. Thus, according to the agreement, the supplier will pay ADTF Distributors a total refund of $ (e) Assuming the repairs to the defective lamps continue at the same rate, then the number of working lamps will…
1. A student is planning to spend her saving to get a new iPhone which costs $2500. The store gives a regular discount of 15% from the original price. However, if she buys the phone within that month, she is entitled an additional discount of 5% on top of the regular discount. (a) Find the selling price of the phone with regular discount. (b) Find the selling price with an additional discount, the student will pay if she buys the phone within that month.
4

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