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igomit [66]
1 year ago
12

Ethan is planning for his retirement. He has narrowed it down to two investment options. The first is an ira where monthly payme

nts are made, in the amount of $416. 66, for 30 years. The second is a roth ira where annual payments are made, in the amount of $5000, for 30 years. If both compound interest at a rate of 2. 5%, determine which account will yield the largest future value for ethan, and how much greater that value will be than that of the other account. Round your final answer to the nearest cent.
Business
1 answer:
vlada-n [284]1 year ago
3 0

Answer:

a.

IRA; $3,552.72

Explanation:

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Crane Company's accounting records reflect the following inventories: Dec. 31, 2017 Dec. 31, 2016 Raw materials inventory $21000
TiliK225 [7]

Answer:

$910,000

Explanation:

Given the above information, total raw materials available for use during 2017 is calculated below;

= Beginning raw materials + Purchases

Beginning raw materials = $210,000

Purchases = $700,000

Then,

Total raw materials available for use during 2017 for Crane company

= $210,000 + $700,000

= $910,000

5 0
2 years ago
Steve puts only dimes and quarters into his piggy bank. Right now he has five more dimes than quarters there, and they make $74.
larisa86 [58]

Answer:

There are 211 quarters and 216 dimes

Explanation:

To answer this question, we need to properly understand what a dime is and what a quarter is. A quarter is 25 cents while a dime is 10 cents in value.

Let the number of dimes present be d and the number of quarters present be q.

We are told that he has 5 more dimes than quarters.

Mathematically, this means that:

d - q = 5 or d = q+ 5 .......(I)

The total value there is $74.35. In cents, this has a value of 7435 cents.

Mathematically:

25q + 10d = 7435......(ii)

We substitute what we have in 1 in 2

25q + 10(q+5) = 7435

25q + 10q + 50 = 7435

35q + 50 = 7435

35q = 7435-50

35q = 7385

q = 7385/35

q = 211

Recall, d = q+ 5 ; d = 211 + 5 = 216

4 0
3 years ago
Read 2 more answers
When a parent owns less than 100% of a subsidiary, the noncontrolling interest shareholders are allocated their ownership percen
eduard

Answer: The optional accumulated depreciation elimination entry

Explanation:

A non-controlling interest, is also refered to as a minority interest, and this occurs when a has below 50% of the outstanding shares and in such case doesn't have a control over decisions as well.

It should be noted that when a parent owns less than 100% of a subsidiary, the noncontrolling interest shareholders are allocated their ownership percentage of income or net assets in all of the following eliminating entries except for the optional accumulated depreciation elimination entry.

6 0
2 years ago
Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annua
Fittoniya [83]

Answer:

€903.50

Explanation:

We use the present value formula to determine the current price of the bond which is shown in the attachment below:

Given that,  

Future value = €1,000

Rate of interest = 7.6%

NPER = 15 years

PMT = €1,000 × 6.5% = €65

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the current price of the bond is €903.50

8 0
3 years ago
Manner Inc. has incurred the following overhead costs over a 6 week period: Calculate the approximate fixed cost component of Ma
Gnom [1K]

Answer:

250 dollars

Explanation:

Variable cost = 1190-710/94-46

= 480/48

= 10 dollars

Fixed cost = 1190-(10*94)

= 1190-940

= 250 dollars

Fixed cost = 710-(10*46)

= 710-460

= 250 dollars

4 0
3 years ago
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