1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Luba_88 [7]
3 years ago
6

51. lo.4 pam retires after 28 years of service with her employer. she is 66 years old and has contributed $42,000 to her employe

r’s qualified pension fund. she
elects to receive her retirement benefits as an annuity of $3,000 per month for the
remainder of her life.
a. assume that pam retires in june 2015 and collects six annuity payments this year. what is her gross income from the annuity payments in the first year?
b. assume that pam lives 25 years after retiring. what is her gross income from the annuity payments in the twenty-fourth year?
c. assume that pam dies after collecting 160 payments. she collected eight pay- ments in the year of her death. what are pam’s gross income and deductions from the annuity contract in the year of her death?
Business
1 answer:
UkoKoshka [18]3 years ago
8 0
There is a vital sentence that is missing in the problem. Had it been present, the amount computed would not be the same. 

Given:
28 years in service.
66 years old and has contributed 42,000 in her employer's qualified pension fund.
3,000 per month for the remainder of her life.

a) Retires June 2015 and collects six annuity payment.
3,000 x 6 months = 18,000 Gross income.

b) 3,000 x 12 months = 36,000

c) Income from annuity payments: 3,000 x 8 months = 24,000
Loss deductions: 3,000 x 4 months = 12,000

You might be interested in
Anita is an entrepreneur who is interested in starting a hair salon. Anita consulted her friend Ali, who is a businessman, to ge
Varvara68 [4.7K]

ANSWER 1. Capital

EXPLANATION: Calculating capital is necessary for a business. It is the basic duty of an entrepreneur to calculate capital before starting any business to check the financial capacity of the entrepreneur. Calculating capital also helps to estimate if any outside finance is necessary to start the business.

ANSWER 2: Set of Services

EXPLANATION: Choosing and categorizing set of services is necessary before starting any business. This will help in acquiring expert and trained set of labors to carry out the work. The clients will also come to know of the services that are available in the business. Expert and trained set of labors are difficult to find in any market.

ANSWER 3: Total Cost of Ownership

EXPLANATION: Total cost of ownership is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. Each and every piece of equipment that Anita buys is added to the cost of the ownership of the business.

4 0
3 years ago
Read 2 more answers
You and four other team members attend a seminar on conflict. The seminar costs $150 per person. You will need to drive two cars
Sveta_85 [38]

Answer: $825

Explanation:

Total seminar cost for the team;

= 150 * 5 people

= $750

Two cars need to be driven the 100-mile round trip at 37.5 cents per mile.

= 2 * 100 * 37.5

= 7,500 cents

= $75

Cost of Seminar = 750 + 75 = $825

5 0
2 years ago
Fairfield company's raw materials inventory transactions for the most recent month are summarized here: beginning raw materials
astraxan [27]

<u>Calculation of raw materials cost added to the work in process inventory account during the period:</u>

Raw materials issued using materials requisition 1445 for Job 101  = $25,000

Add: Raw materials issued using materials requisition 1446 for Job 102 = $35,000

Add: Materials requisition 1447 used on multiple jobs 1= $30,000

Total raw materials cost added to the work in process inventory account during the period =<u> $90,000</u>


4 0
3 years ago
Takisha Jorimoto works in finance for a small microbrewery. This week Takisha is working on a budget for the next 12 months. She
larisa [96]

Answer:

to follow her heart

Explanation:

and you will follow the steps

8 0
3 years ago
Suppose Asarta Inc. is polluting yucko and they have been tasked with cleaning up some of their waste. The company decides to cl
uranmaximum [27]

Answer: The answer is No, because the MB > MC

Explanation:

They are not cleaning up enough because the MB>MC. Therefore, all other options which cut across - Yes, because the MC > MB,

No, because the MB > MC,

Yes, because the MB > MC and

No, because the MC > MB are wrong.

5 0
3 years ago
Other questions:
  • A 10-year semi-annual coupon bond with an $1000 par value pays an annual coupon rate of 6% and the market requires 8% APR. What
    9·1 answer
  • Albert was wanting to save some money on his vacation, so he brought food and soft drinks with him to the airport to eat on the
    12·1 answer
  • What are the two measures of profitability that The DuPont system merges the income statement and balance sheet into? A. net pro
    13·2 answers
  • You have an annuity which pays $1,200 every two years. The first payment is two years from now and the last payment is ten years
    8·1 answer
  • Some of the most common applications of real options are with property and insurance. A real estate option grants the holder the
    7·1 answer
  • A company purchased new equipment for $53,000. The company paid cash for the equipment. Other costs associated with the equipmen
    11·1 answer
  • Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 150 shares of its common st
    9·1 answer
  • PLEASE HELP ASAP!! CORRECT ANSWER ONLY PLEASE!!!
    12·1 answer
  • The relatively homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar
    11·1 answer
  • B. the budgeted indirect-cost driver rate for y based on the number of machine-hours is in excess of x by ________per machine ho
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!