Brenda is ready to retire and her company uses the formula below to calculate defined benefits:...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Brenda is ready to retire and her company uses the formula below to calculate defined benefits: Defined Benefit = 2.75%planPercentage * Average Salary During Last Three Years * Number of Years of Service How much is Brenda's defined benefit given she worked at the firm for 27 years and given her salary the last three years was: $50,290, $52,313, and $54,953. Brenda is ready to retire and her company uses the formula below to calculate defined benefits: Defined Benefit = 2.75%planPercentage * Average Salary During Last Three Years * Number of Years of Service How much is Brenda's defined benefit given she worked at the firm for 27 years and given her salary the last three years was: $50,290, $52,313, and $54,953. Brenda is ready to retire and her company uses the formula below to calculate defined benefits: Defined Benefit = 2.75%planPercentage * Average Salary During Last Three Years * Number of Years of Service How much is Brenda's defined benefit given she worked at the firm for 27 years and given her salary the last three years was: $50,290, $52,313, and $54,953. Brenda is ready to retire and her company uses the formula below to calculate defined benefits: Defined Benefit = 2.75%planPercentage * Average Salary During Last Three Years * Number of Years of Service How much is Brenda's defined benefit given she worked at the firm for 27 years and given her salary the last three years was: $50,290, $52,313, and $54,953.
Expert Answer:
Answer rating: 100% (QA)
Heres the calculation for Brendas defined benefit Defined Benefi... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
Posted Date:
Students also viewed these finance questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
Swish Designs specialises in designing commercial office space in Auckland. The CEO, Ralph Polo has reviewed the financial results and has noticed that operating profits were below budget. He also...
-
Your eye looks into an aquarium and views a fish inside. One ray of light that emerges from the tank is shown in Fig. 23-45, as well as the apparent position of the fish. In the drawing, indicate the...
-
Bob has to study for four final exams: accounting (A), biology (B), communications (C), and drama (D). (a) If he studies one subject at a time, in how many different ways could he arrange them? (b)...
-
Fun-Tastic Shows, Inc., is a company that hosts carnivals and similar events. Susan Swartwood, Crystal Groth, and a minor (named in the case as M.G.S.) attended Fun-Tastics Rhododendron Festival in...
-
Table 8.1 contains beta coefficient estimates for six firms and from two different sources. Calculate the expected increase in the value of each firms shares if the market portfolio were to increase...
-
Syarikat Penapisan Petroleum Berhad produces three joint products; Gasoline, Kerosene dan Diesel; and byproduct, i.e. Tar in the same refinery process. The split-off point incurred after the...
-
Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019, the end of the current year, Pitman Company's accounting clerk prepared the following...
-
Due to the complexity of International Financial Reporting Standards (IFRS), often judgments used at the time of transition to IFRS have resulted in prior period adjustments and changes in estimates...
-
Draw the Bode plot and identify the corner frequency, as well as the asymptotic approximations of magnitude for low-frequency and high-frequency ranges. \(G(s)=\frac{2.5}{5 s+\frac{3}{4}}\)
-
Draw the Bode plot, identify the resonant frequency and the peak magnitude ( \(\mathrm{dB})\), if applicable, and find the approximate lowfrequency logarithmic magnitude. \(G(s)=\frac{48}{s^{2}+2.6...
-
Draw the Bode plot, identify the resonant frequency and the peak magnitude ( \(\mathrm{dB})\), if applicable, and find the approximate lowfrequency logarithmic magnitude. \(G(s)=\frac{5}{s^{2}+2...
-
Political Parties In a preelection survey of likely voters, political parties of respondents are identified as 1 for a Democrat, 2 for a Republican, 3 for an Independent, and 4 for anything else. The...
-
House of Representatives Currently the House of Representatives has 435 members. Determine whether the given values are from a discrete or continuous data set.
-
What is Hobbes' distinction between the state of nature and the state of political society? How does one go from the former to the latter? Do you agree with Hobbes's fear and solution? (typed answer...
-
Sheldon and Leonard had a million-dollar idea. In order to make it happen, they have to do special research first. Only Kripke can help them in this matter. But Kripke is known to be the first-class...
-
Cole Company had a deferred tax liability of $1,000 at the end of Year 1 when the tax rate was 20%. In Year 2, Congress increases the income tax rate from 20% to 30%. Record the journal entry Cole...
-
On October 1, 2009, the Jenkins Corporation bought bonds with a face value of $200,000 for $199,175, which included accrued interest. The bonds are due December 31, 2011 and carry a face rate of...
-
Sun Corporation issues 500 shares of $8 par common stock for a patent. The stock is currently selling for $37 per share on the open market, and no significant impact on the market price is expected...
-
Explain four strategies for improving listening skills.
-
Define the following factors and explain how they affect listening: body factors, voice factors, proximity factors.
-
John Gill is a busy man. No matter how fast he works, it seems hes always behind. Consequently, when an employee brings Gill a problem, he is not a good listener. He opens mail, answers the...
Study smarter with the SolutionInn App