Use the Following Information for Questions

question 63

Multiple Choice

Use the following information for questions .
Maggie Moo, age 40, begins employment with Farm Corporation on January 1, 2020 at a starting salary of $ 40,000. It is expected that Maggie will work for the company for 25 years, retiring on December 31, 2044, when Maggie is 65 years old. It is expected that her salary at retirement will be $ 140,000. Further assume that mortality tables indicate the life expectancy of someone age 65 in 2044 is 12 years.
Farm Corporation sponsors a defined benefit pension plan with the following formula
Annual pension benefit on retirement = 3% of salary for each year of service, or 3% final salary x years of service.
Assume a discount rate of 6%
-Determine the current service cost for Maggie Moo at December 31, 2020.

• A) $ 4,200
• B) $ 8,212.66
• C) $ 8,696.69
• D) $ 35,212.12

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Definitions:

Urinary Tract Infections

Infections that occur in any part of the urinary system, including the bladder, kidneys, ureters, and urethra, often caused by bacteria.

Void

In medical terminology, to empty or evacuate waste material, especially urine, from the body.

Perineum Area

The region of the body between the pubic symphysis and the coccyx, including the genital and anal areas.

Prostate Gland

A male reproductive organ located below the bladder that produces fluids included in semen.