An employee, who is less than 10 years away from average retirement age, was injured on the
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Question:
a) Two years lost pay (2 yrs ago: $60,000 and last year: $63,000)
b) Five years future salary at an average of $66,000 per year.
c) $200,000 for pain and suffering, and
d) $40,000 to cover his court costs.
(Assume wages are paid monthly at the end of the month.)
Required:
a) If the annual effective interest rate is 4%, what is the size of the settlement today? (Timeline required)
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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