Junior Ltd Employs Three Workers to Develop and Test Games

question 42

Multiple Choice

Junior Ltd employs three workers to develop and test games.The employees are currently earning $30,000 each and are expected to cease their employment in 20 years.At the end of their employment each employee is entitled to a lump sum payment equal to 10 per cent of their final salary.Actuarial analysis suggests salaries will increase evenly at a rate of 5 per cent per year over the 20 years.In 5 years' time,what total benefit will the three employees have accrued (rounded to the nearest dollar) :

• A) $114,865.
• B) $23,899.
• C) $165,000.
• D) $119,399.
• E) None of the given answers.

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A severe worldwide economic downturn that took place during the 1930s, marked by high unemployment, widespread poverty, and deflation.

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A period in American history, specifically from 1920 to 1933, during which the manufacture, sale, and transportation of alcoholic beverages was legally prohibited.

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A term that refers to the period of prohibition in the United States during the 1920s and early 1930s intended to reduce crime and corruption, improve health, and improve social morals.

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