Answer:
Benefit payments made on a usual, customary and reasonable (UCR) basis are not scheduled, but are based on the average fee charged by all doctors in a given geographical area.
Explanation:
Benefit payments can be described as a government payment to specific people in the society who are disadvantaged in one way or the other. Benefit payments can be made to the; unemployed, people with children, the aged, people who are ill and even the poor. Benefit payments is a practice that is anchored in law that aims at protecting the economically vulnerable in the society. There are different types of benefit payments that exist. In this particular question, we will consider UCR payments.
The UCR payments falls under the health and welfare plans, and can be defined as benefit payments that are not scheduled but are based on the average fee charged by all doctors in a given geographical area. A benefit payment that is not scheduled means that it doesn't have a specific amount attached to it, but depends on the location. This is because health services charges vary from one geographical position to the next. One can be offered different medical charges in different locations due to a distinction in geographical area. The same geographical areas however, have an average amount of fee that is specific to that area. In benefit payments, this average amount is what is often payed to the beneficiary.
Answer:
8.46%
Explanation:
Calculation for the the taxable equivalent yield for this investment
Using this formula
Taxable equivalent yield
=Tax-exempt yield / (1 − Your tax rate)
Let plug in the formula
Taxable equivalent yield=0.055 / (1 - 0.35)
Taxable equivalent yield=0.055/0.65
Taxable equivalent yield=0.0846*100
Taxable equivalent yield= 8.46%
Therefore the taxable equivalent yield for this investment is 8.46%
Answer:
$800,579.28
Explanation:
The sum of the monthly payments can be found by the "annuity due" formula:
A = P(1 +n/r)((1 +r/n)^(nt)-1)
where P is the monthly deposit, r is the annual interest rate, n is the number of times per year it is compounded, and t is the number of years.
For this problem, we have ...
A = $400(1 +12/.06)(1(1 +.06/12)^(12·40)-1) = $400(201)(1 -1.005^480 -1)
A = $800,579.28
The account balance after 40 years will be $800,579.28.
