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Luba_88 [7]
2 years ago
6

A service contract for a video projection system costs $80 a year. You expect to use the system for six years. Instead of buying

the service contract, what would be the future value of these annual amounts after six years if you earn 3 percent on your savings?
Business
1 answer:
andre [41]2 years ago
7 0

The future value of the annual amounts after six years, earning an annual rate of return of 3% is $517.47

What is the future value of an ordinary annuity of $80 per year for six years earning a rate of 3% annually?

Note that the $80 that would have been paid for the video projection system would be invested at the end of each year, in other words, we would invest an equal amount every year for six years, hence, the future value formula of an ordinary annuity is the most appropriate to determine the value of the savings after six years

FV=annual savings*(1+r)^N-1/r

annual savings=$80

r=rate of return=3%

N=number of annual savings for 6 years=6

FV=$80*(1+3%)^6-1/3%

FV=$80*(1.03)^6-1/0.03

FV=$80*(1.194052296529-1)/0.03

FV=$80*0.194052296529/0.03

FV=$517.47

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Eager, a tipped employee, reported to his employer that he had received $320 in tips during March. On the next payday, April 4,
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Answer:

Amount of OASDI taxes to withhold = $35.34

Explanation:

Find:

Amount received in march = $320

Amount of salary = $250

Find:

Amount of OASDI taxes to withhold .

Computation:

OASDI tax rate = 6.2%

Total amount = Amount received in march + Amount of salary

Total amount = $320 + $250

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Amount of OASDI taxes to withhold = Total amount × OASDI tax rate

Amount of OASDI taxes to withhold = $570 × 6.2%

Amount of OASDI taxes to withhold = $35.34

5 0
3 years ago
A woman earns 15% more than her husband. Together they make $58,695 per year. What is the husband's annual salary?
yarga [219]

Answer:

$27,300

Explanation:

Let husband's salary be x

Wife's salary is 15% more than husband's salary. This implies that wife's salary is 15% of x plus x.

Wife's salary = 0.15x + x

                     = 1.15x

Sum of their salaries = $58,695

Substituting the values in the equation:

58,695 = 1.15x + x

2.15x = 58,695

x = $27,300

Husband's annual salary is computed as $27,300

3 0
3 years ago
The accounting principle that requires that the cost flow assumption be consistent with the physical movement of goods is:a. cal
grigory [225]

Answer: C nonexistent; that is, there is no such accounting requirement.

Explanation: there is no accounting

assumption that requires that the cost flow be consistent with the physical movement of goods.

Instead, the movement of money (real or virtual) is tracked using a cash flow statement; income and profit matches revenues to the timing of when products/services are delivered—a company’s net income can actually be materially different from its cash flow.

4 0
3 years ago
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o-na [289]

Answer:

b. is zero.

Explanation:

Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.

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2. Proportional taxation: it involves charging both lower and higher income earners equally in proportion to their income.

For instance, Citizen A pays 10% on $50,000 and Citizen B pays 10% on $36,000.

3. Regressive taxation: it involves charging individuals with low incomes a higher percentage of their total income and vice-versa.

For instance, Citizen A pays 15% on $50,000 and Citizen B pays 20% on $36,000.

The marginal tax rate for a lump-sum tax is zero because an additional amount of money would not change it.

7 0
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False I believe! Hope this was correct for you..
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