3. Frank, age 70, is receiving a Social Security retirement check of $580. His wife, who...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
3. Frank, age 70, is receiving a Social Security retirement check of $580. His wife, who is 67, also receives a check off of his record. They also receive a small dividend of $70 each month. (20 points) Wife receiving half of 580 which is 290. Total each month is 940 a. What SSI can they receive if they live in New York? In Alabama? b. Frank tells you that he doesn't think he'll qualify because they own their own home and have about $5,000 in a savings account. What explanation can you give him? c. Frank's wife dies. To try to fill part of the new void in his life, Frank gets a part-time job at the town library. This job pays him $285 a month. What happens to his SSI if he continues to live in New York? 3. Frank, age 70, is receiving a Social Security retirement check of $580. His wife, who is 67, also receives a check off of his record. They also receive a small dividend of $70 each month. (20 points) Wife receiving half of 580 which is 290. Total each month is 940 a. What SSI can they receive if they live in New York? In Alabama? b. Frank tells you that he doesn't think he'll qualify because they own their own home and have about $5,000 in a savings account. What explanation can you give him? c. Frank's wife dies. To try to fill part of the new void in his life, Frank gets a part-time job at the town library. This job pays him $285 a month. What happens to his SSI if he continues to live in New York?
Expert Answer:
Answer rating: 100% (QA)
In New York they can receive up to 781 per month in Supplemental Security Income SSI In Alabama they ... View the full answer
Related Book For
Posted Date:
Students also viewed these economics questions
-
A neophyte magnet designer tells you that he can produce a magnetic field B in vacuum that points everywhere in the x-direction and that increases in magnitude with increasing x. That is, B = B0 (x/a...
-
At a cocktail party, your co-worker tells you that he has beaten the market for each of the last 3 years. Suppose you believe him. Does this shake your belief in efficient markets?
-
The manager of the donut shop tells you that he sells donuts for $1 each, and that if he were to make additional donuts, based on his current level of output, it would cost him $0.80 per donut. Do...
-
All of the following represent trends shaping HR over the past decade, according to our reading, except: Organizations are spending more on the expansion of physical office space Employees are...
-
Go to Google and type in corporate governance. How many hits did you get? Check out a few of the links to see what type of information is available on the topic of corporate governance.
-
Describe each of the four costs of quality: prevention, appraisal, internal failure, and external failure. Next, describe how each type of cost would change (increase, decrease, or remain the same)...
-
Alternatives 1, 2, and 3 have lives of 3, 4, and 6 years, respectively. Their net cash flow (NCF) and salvage value (SV) profiles are as follows: Additional explanation is necessary: The NCF profile...
-
Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. Common Stock. 2. Discount on Bonds Payable. 3. Treasury Stock (at cost). 4. Notes Payable, short-term. 5....
-
what are three techniques for processing BI DATA? explain clearly REPORTING ANALYSIS, RFM ANALYSIS,ONLINE ANALYTICAL PROCESSING,DATA MINING ANALYSIS?
-
Determine how many users have received more than 5000 "cool" compliments. Create a variable user_count (an integer) which contains the number of user with more than 5000 "cool" compliments (using...
-
Vanessa monfort, the company's bookkeeper, prepared the 2010 tax returns for the corporation using an online tax program and feels she can prepare them again this year, but matt lever feels that he...
-
Water has an index of refraction of 1.33. What is the angle of refraction if a laser beam strikes the surface of the water at 30 degrees above the surface of the water? Show your work.
-
Booher Book Stores has a beta of 0.. The yield on a 3-month T-bill is 5% and the yield on a 10-year T-bond is %. The market risk premium is 6.5%, and the return on an average stock in the market last...
-
If a merchant s cardholder data is shared with service providers, or could be impacted by service providers, what is the merchant required to maintain?
-
10) Setup the following inventory items and enter the quantity of each item on hand as at 1/7/21 with their opening balances below. Use 1- 1320 Inventory as the default adjustment account. A-101...
-
If the closest airport is 2 , 0 0 0 km ( at sea level ) from the location of the aircraft at the moment of failure, could this aircraft glide safely to this airport?
-
Let o = 1 2 3 4 5 6 7 8 4 3 2 7 6 1 8 and T= a. Write r as a product of cycles. b. Write a as a product of transpostions. 1 2 3 4 5 6 3 5 27 8 8 $) 16 4
-
The Alert Company is a closely held investment-services group that has been very successful over the past five years, consistently providing most members of the top management group with 50% bonuses....
-
A company that manufactures air-operated drain valve assemblies budgeted $74,000 per year to pay for plastic components over a 5-year period. If the company spent only $42,000 in year 1, what uniform...
-
Determine the profitability index at 10% per year interest for a project that has a first cost of $200,000 in year 0 and $200,000 in year 2, an annual operating cost of $80,000 per year, revenue of...
-
For country 1, SL depreciation is $20,000 per year. Determine the (a) CFAT series (b) PW of depreciation, taxes, and CFAT series. Open Access, Inc. is an international provider of computer network...
-
We are a global, science-led biopharmaceutical business. Return to shareholders Revenue from the sale of our medicines generates cash flow, which helps us fund business investment. It also enables us...
-
Our mission and supporting strategies The FRCs mission is to promote high quality corporate governance and reporting to foster investment. Why have we landed on this mission? The capital markets are...
-
National Express and Stagecoach are both major providers of transport services in the UK. Here we compare their accounts of financial performance in their UK Bus divisions. National Express plc UK...
Study smarter with the SolutionInn App