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It is now December 31, 2015 (t = 0), and a jury just found in favor of a woman who sued the city for injuries sustained in a January 2014 accident. She requested recovery of lost wages plus $50,000 for pain and suffering plus $10,000 for legal expenses. Her doctor testified that she has been unable to work since the accident and that she will not be able to work in the future. She is now 62, and the jury decided that she would have worked for another three years. She was scheduled to have earned $48,000 in 2014. (To simplify this problem, assume that the entire annual salary amount would have been received on December 31, 2014.) Her employer testified that she probably would have received raises of 3% per year. The actual payment for the jury award will be made on December 31, 2016. The judge stipulated that all dollar amounts are to be adjusted to a present value basis on December 31, 2016, using a 5% annual interest rate and using compound, not simple, interest. Furthermore, he stipulated that the pain and suffering and legal expenses should be based on a December, 31, 2015, date. How large a check must the city write on December 31, 2016? Do not round intermediate calculations. Round your answer to the nearest cent.
Kaye Blanchard is 72 years old. She has $30,000 of adjusted gross income and $8,000 of qualified medical expenses. She will be itemizing her tax deductions this year. How much of a tax deduction will Kaye be able to deduct?
Which one of the following is an underlying assumption of the dividend growth model?
what is this project’s equivalent annual cost, or EAC?
A benefactor wishes to establish a trust fund to pay a researcher’s salary for T years.
Find the following values for a lump sum assuming annual compounding:
Wilson Inc uses bonds and common shares to finance its investments and operations.
Sports Corp has 10.0 million shares of common stock outstanding, 5.0 million shares of preferred stock outstanding, and 1.0 million bonds. If the common shares are selling for $25.0 per share, the preferred shares are selling for $12.5 per share, and..
What is the standard deviation of a portfolio of two stocks given the following data: Stock A has a standard deviation of 30%.
Which of the following strategies would you recommend? What’s the total US dollar cost?
Floating rate annuity - find the value of a spot-starting infinite stream of libor payments, that is, when t = T0 = 0 and as n → ∞.
A fund of $5000 is used to award a scholarship of $500 at the end of each six months for as long as possible. If the effective interest rate per 6 months is 7%, find the number of scholarships which can be awarded, and the amount left in the fund six..
Assume that the returns from an asset are normally distributed. The average annual return for this asset over a specific period was 17.2 percent and the standard deviation of those returns in this period was 43.92 percent. What is the approximate pro..
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