Business, 07.04.2020 21:32 Itslegit3

Nick is concerned about how he will fund contributions to a defined contribution plan. You recommend that he use a unit formula based on employee compensation and years of service. The formula is calculated using one unit of credit for each year of service and one unit of credit for each $10,000 in earnings. If Nick is willing to allocate $30,000 in total contribuitons in andy given year, using a total allocation of 80 units (and disregarding any key employee or top-heavy restrictions), what is the maximum amount that will be contributed to Nick's account?

Nick is age 60, has worked in the business for thirty years, and earns $110,000 per year.

a. $9,675
b. $13,225
c. $15,375
d. 22,750

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 12:30

In the 1970s, kmart used blue light specials to encourage customers to flock to a particular department having a temporary sale. a spinning blue light activated for approximately 30 seconds, and then an in-store announcement informed shoppers of the special savings in the specific department. over time, loyal kmart shoppers learned to flock to the department with the spinning blue light before any announcement of special savings occurred. if kmart was employing classical conditioning techniques, what role did the spinning blue light play?

Answers: 3

Answer

Business, 22.06.2019 13:00

Explain the relationship between consumers and producers in economic growth and activity

Answers: 1

Answer

Business, 22.06.2019 14:50

One pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be:

Answers: 2

Answer

Business, 22.06.2019 21:50

The third program provides families with $50 in food stamps each week, redeemable for both perishable and nonperishable food. the fourth policy instead provides a family with a box of nonperishable foods each week, worth $50. use two graphs to illustrate that a family may be indifferent between the two programs, but will never prefer the $50 box of nonperishable foods over the $50 in food stamps. state your answer and use a consumer choice model for perishable food and nonperishable food to graphically justify your choice.

Answers: 1

Answer

You know the right answer?

Nick is concerned about how he will fund contributions to a defined contribution plan. You recommend...

Questions