Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you are serving on a jury. a plaintiff is suing th

You are serving on a jury. A plaintiff is suing the city for injuries sustained after a...

70.2K

Verified Solution

Question

Finance

You areserving on a jury. A plaintiff is suing the city for injuriessustained after a freak street sweeper accident. In the trial,doctors testified that it will be five years before the plaintiffis able to return to work. The jury has already decided in favor ofthe plaintiff. You are the foreperson of the jury and propose thatthe jury give the plaintiff an award to cover the following: (a)The present value of two years’ back pay. The plaintiff’s annualsalary for the last two years would have been $43,000 and $46,000,respectively. (b) The present value of five years’ future salary.You assume the salary will be $51,000 per year. (c) $150,000 forpain and suffering. (d) $20,000 for court costs.
Assume thatthe salary payments are equal amounts paid at the end of eachmonth. If the interest rate you choose is an EAR of 6.5 percent,what is the size of the settlement?

Answer & Explanation Solved by verified expert
4.3 Ratings (888 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Your textbook states that middle adulthood is a period of balance in gains and losses. Explain...

Biology
1.2K views

What do we call a natural resource if it can be used up faster than...

Biology
1.2K views

n his essay Common Sense Paine fears that they might be in danger of being...

Basic Math
1.2K views

A factory produces widgets and zurls. The combined number of widgets and zurls made each...

Calculus
1.2K views

The second proposal we ll consider is a modified flat tax plan where everyone only...

Calculus
1.2K views

Determine the infinite limit O 8 O 88 lim In sin x x 0

Accounting
1.2K views

Rewrite the following lists of months and weekdays so that they are in...

Accounting
1.2K views

Jung & Newbicalm Advertising (JNA) recently hired...

Accounting
1.2K views

In most cases, a trust must use: A. A calendar-year accounting period. B. A fiscal-year...

Accounting
1.2K views

A company reports pretax accounting income of $20 million, but because of a single temporary...

Finance
1.2K views

Q - Summarize project plan for the below case Your client is an IT...

Finance
1.2K views

South Lancaster Medical Center (SLMC) estimates that a capitated population of 50,000 would have the...