Louie company has a defined benefit pension plan. on december 31 (the end of the fiscal year), the company received the pbo report from the actuary. the following information was included in the report: ending pbo, $110,000; benefits paid to retirees, $10,000; interest cost, $8,000. the discount rate applied by the actuary was 8%. what was the service cost for the year?

In north korea, a farmer’s income is the same as a dentist’s income. in a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. how can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?

You wish to retire in 13 years, at which time you want to have accumulated enough money to receive an annual annuity of $23,000 for 18 years after retirement. during the period before retirement you can earn 9 percent annually, while after retirement you can earn 11 percent on your money. what annual contributions to the retirement fund will allow you to receive the $23,000 annuity? use appendix c and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

Which of the following is considered part of a country’s infrastructure?