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snow_lady [41]
2 years ago
12

John is 17 years old and he earned $3,500 in a summer job. His grandparents just gave him a gift of $5,000 to help him learn fin

ancial responsibility (nice grandparents). How much can John contribute to an IRA (Traditional or Roth)
Business
1 answer:
Lerok [7]2 years ago
5 0

"John is 17 years old and he earned $3,500 in a summer job. His grandparents just ..."John can contribute $3,500  to an IRA. This is further explained below.

<h3>What is IRA?</h3>

Generally, For those looking to save and invest for their retirement, an individual retirement account (IRA) is a kind of savings account that offers favorable tax treatment.

In conclusion, "John, who is just 17, worked all summer and saved $3,500. Just recently, his grandparents..." John has an annual IRA contribution limit of $3,500.

Read more about IRA

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The answer is recency effect. The recency effect happens when you only remember the things or events that just happened in a recent time.In this case, Sheldon is showing the recency effect because he only remembered the last part of the list that he was going to buy. If Sheldon had remembered the first part, then he is experiencing the Primary effect, which is the opposite of recency effect
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Tiffany has $5000 of savings in her bank account. What would be different if she had that $5000 invented in stocks instead?
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What would be different is The money she has
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3 years ago
Suppose a bank enters a repurchase agreement in which it agrees to buy Treasury securities from a correspondent bank at a price
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Answer:

Yield with 6-day maturity is 7.70%

Yield with 18-day maturity is 2.57%

Explanation:

The formula for yield on repurchase is given as:

y = ( PAR – P ) / P x (360 / t )

P=Purchase price

PAR=Repurchase price

t= number of days of the transaction

In first scenario,PAR is $39 million,P is $38.95 million and t=6

y=($39000000-38950000)/38950000*(360/6)

y=7.70%

In the second scenario,details remained the same except for t that is 18

y=($39000000-38950000)/38950000*(360/18)

y=2.57%

This implies the longer the maturity the lesser the yield since yield is computed on daily basis.

3 0
3 years ago
Mitch, a single tax-payer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bon
goldfiish [28.3K]

Answer:

E) None of the choices are correct.

<em>18.289,26‬</em>

<em>As we given an option with two decimals which are different from the calculated amount we should take it as incorrect. </em>

<em></em>

Explanation:

The municipal bonds are tax free. Therfore, not included.

We will calcuatae based on 2019 income tax brackets for single-taxers

between $82,501 to $157,500 the amount is $14,089.50 + 24% of the amount over 78,950

100,000 - 82,501 = 17,499

17,499 x 24% = 4,199.76

14,089.50 + 4,199.76 =<em> 18.289,26‬</em>

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What to do if you have a student whos bad
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Maybe punishment and let inform he’s parents
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