Olga buys a 5-year increasing annuity for . She will receive 2 at the end of first month, 4 at the end of second month, and for each month there after the payment increases by 2. The nominal

interest rate is 9% convertible quarterly. Find X

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.