Joan Recently Started Her Career with PDEK Accounting, LLP Which

question 81

Essay

Joan recently started her career with PDEK Accounting, LLP which provides a defined benefit plan for all employees. Employees receive 1.5 percent of the average of their three highest annual salaries for each full year of service. Plan benefits vest under a 5-year cliff schedule. Joan worked 5½ yearsat PDEK before leaving for another opportunity. She received an annual salary of $49,000, $52,000,$58,000, $65,000, and $75,000 for years one through five respectively. Joan earned $40,000 of her$80,000 annual salary in year six. What is the vested benefit Joan is entitled to receive from PDEKfor her retirement? Exhibit 13-1

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Definitions:

Boxplot

A graphical representation of data points that displays the median, quartiles, and outliers of the dataset.

Mathematics Achievement

The level of proficiency and understanding a person has in mathematics, often measured through assessments or tests.

Ninth Graders

Students who are in the ninth grade, often the first year of high school in many education systems.

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The numerical expression of an achievement or a performance, often used in games, exams, or competitions.