Garland Inc. offers a new employee a single-sum signing bonus at the date of employment, June 1, 2021. Alternatively, the employee can receive $50,000 at the date of employment plus $21,000 each June 1 for four years, beginning in 2024. Assuming the employee's time value of money is 9% annually, what single amount at the employment date would make the options equally desirable?
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- Dog Quaker State Incorporated offers a new employee a single-sum signing bonus at the date of employment. Alternatively, the employee can receive $8,300 at the date of employment plus $23,000 at the end of each of his first four years of service. Assuming the employee's time value of money is 10% annually, what lump sum at employment date would make him indifferent between the two options?Garland incorporated offers a new employee a single-sum sining bonus at the date of employment, june 1,2024. Alternatively, the employee can receive $42,000 at the date of employment plus 13,000 each june 1 for four years, beginning in 2007. Assuming the employee's time value of money is 8% annually, what single amount at the employment date would make the option desirable? A. $50,187 B.$78,915 C.$52,915 D.$76,187Employee B has the opportunity to contribute to a payroll deduction 401(k) plan at work. This employee selects an option that averages 3% per year compounded monthly and contributes $250 per month. How much should he have in the account in 10 years? A payroll-deduction plan is considered to be an ordinary annuity.
- During 2020, a person receives Social Security at age 63 and is earning $23,000/year at a part-time position, how much of their allotted $12,000 yearly Social Security payments would they receive? Assume $12,000 is the amount after deducting the early withdraw penalty.How do I solve the following: An employee that has 35 years until retirement has a current salary of $30,000 per year. The employee's wages are expected to increase by 5% annually over the next 35 years. The employer has a defined benefit pension plan in which a worker’s annual pension benefit is equal to 2% of the employee's final year’s wage for each year of employment, multiplied by the number of years of employment. The employee's expected annual pension benefit is calculated as $115,836.32. The cmpany contributes to the pension plan each year for the next 35 years. Assume 10% actuarial rate of return, and 30 years of retirement life. At the employee's time of retirement, what does the accumulated amount in the employee's pension plan have to be in order to meet the employee's annual pension benefit each year in 30 years?Dillion Savage decides to make semiannual $5000 deposits into an account that pays 5% compounded semiannually. If his first deposit is on January 1, 2021, then how much is in the account immediately after the deposit on January 1, 2030?
- During 2020, Juan Gonzalez, president of Acme Inc. was paid a semimonthly salary of $6,100. Computer the amount of FICA taxes that should be withheld from him. A. 9th paycheckB. 22nd paycheckC. 24th paycheckD. If Juan's year to date earnings as of his 24th paycheck are $146,400 and his year-end bonus is $100,00, how much is the additional HI tax withheld?Vines Company agrees to provide lumpsum retirement benefits to an employee equal to 5% of final salary for each year of service. Information on an employee is shown below: Average annual salary level on December 31, 2020 - 1,000,000 Average annual salary increase starting January 1, 2021 and every year thereafter - 3% Average service lives before entitlement to retirement benefit (2021-2025) - 5 years Discount rate per year - 10% How much is the total lump sum retirement benefit?The EPBO for a particular employee on January 1, 2021, was $39,000. The APBO at the beginning of the year was $7,800. The appropriate discount rate for this postretirement plan is 8%. The employee is expected to serve the company for a total of 25 years with 5 of those years already served as of January 1, 2021. What is the APBO at December 31, 2021? (Round your answer to the nearest whole dollar.)
- Your employer contributes $50 a week to your retirement plan. Assume that you work for your employer for another 20 years and that the applicable discount rate is 9 percent. Given these assumptions, what is this employee benefit worth to you today?Ruby Corporation is required to pay the pension cost of one of its unionized employees. According to the terms of the union contract, the employee will retire in four years and receive $55,000 at the end of the three consecutive years following retirement. Interest is compounded annually. (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Annuity Due table.) Requirement Compute the pension obligation that Ruby has incurred today if the discount rate is 10%. (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts…Rachel Company has established a defined benefit pension plan for its employees. Annual payments under the pension plan are equal to 3% of an employee’s highest lifetime salary multiplied by the number of years with the entity. An employee’s salary in 2021 was P300,000. The employee is expected to retire in 10 years and the salary increases are expected to average 4% per year during that period. On December 31, 2021, the employee has worked for 12 years. The appropriate discount rate is 10% and the employee is expected to live for 5 years after retirement. a. What is the amount of annual pension payment to be used in computing the employee’s projected benefit obligation on December 31, 2021? b. What is the projected benefit obligation on December 31, 2021? c. What is the current service cost for 2022?