Question: please help due soon You are serving on a jury. A plaintff is suing the city for injurfes sustained after a freak street-sweeper accident. In

please help due soon please help due soon You are serving on a jury. A plaintff

You are serving on a jury. A plaintff is suing the city for injurfes sustained after a freak street-sweeper accident. In the trial, doctors testified that it will be five years before the plaintiff is able to return to work. The jury has already decided in favor of the plaintift. You are the foreperson of the jury and piopose that the jury glve the plaintiff an award to cover the following: (a) The present value of two years' back pay. The plaintif's annual salary for the last two years would have been $47,000 and $50,000. respectively. (b) The present value of five years' future salary. Your assume the salary will be $53,000 per year: (c) $150,000 for pain and suffering. (d) $20,000 for court costs. Assume the salary payments are equal amounts paid at the end of each month. If the interest rate you choose is an EAR of 9 percent, what is the sire of the settlement? Note: Do not round intermediate calculations and round your onswer to 2 decimol ploces, 0.9. 32.16. You are serving on a jury. A plaintff is suing the city for injurfes sustained after a freak street-sweeper accident. In the trial, doctors testified that it will be five years before the plaintiff is able to return to work. The jury has already decided in favor of the plaintift. You are the foreperson of the jury and piopose that the jury glve the plaintiff an award to cover the following: (a) The present value of two years' back pay. The plaintif's annual salary for the last two years would have been $47,000 and $50,000. respectively. (b) The present value of five years' future salary. Your assume the salary will be $53,000 per year: (c) $150,000 for pain and suffering. (d) $20,000 for court costs. Assume the salary payments are equal amounts paid at the end of each month. If the interest rate you choose is an EAR of 9 percent, what is the sire of the settlement? Note: Do not round intermediate calculations and round your onswer to 2 decimol ploces, 0.9. 32.16

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!