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2 years ago

If Mia saves $200 per quarter at 10 percent compounded quarterly, how much will she have at the end of 28 years

1 answer:

3 0

If Mia saves $200 per quarter at 10 percent compounded quarterly, how much will she have at the end of 28 years Savings per quarter, PMT = $100 Interest rate = 9% compounded quarterly q = Number of quarters per year = <u>4 Quarterly rate, r = Interest rate/q r = 9%/4 r = 0.0225 Number of years = 30 Number of quarterly payments,</u>

<h3>What is Savings ?</h3>

Savings are the funds that remain after subtracting a person's consumer spending from their disposable income during a specific time period. Savings, then, is what's left over after all bills and commitments have been fulfilled for an individual or household.

Cash or cash equivalents (such as bank deposits) are used to store savings since they carry no danger of loss but also offer very low returns. Savings can increase through investing, but doing so involves putting money at risk.

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Men's Wearhouse caters to the man who doesn't necessarily enjoy shopping. Its stores are in free-standing locations (not inside

SSSSS [86.1K]

Answer:

competitive advantage

Explanation:

A competitive advantage is what makes an entity's goods or services superior to all of a customer's other choices. The strategies work for any organization, country, or individual in a competitive environment

7 0

4 years ago

At the end of its first month of operations, Michael's Consulting Services reported net income of $27,400. They also had account

Leviafan [203]

Answer:

$32,800

Explanation:

The computation of the ending balance in the owner capital account is shown below:

= Net income reported + total investment for the first month

= $27,400 + $5,400

= $32,800

We simply added the net income and the total investment reported during the month so that the ending balance in the owner capital account could arrive

6 0

3 years ago

Brummitt Corp., is evaluating a new 4-year project. The equipment necessary for the project will cost $2,000,000 and can be sold

sergejj [24]

Answer:

The aftertax salvage value of the equipment is $302,964

Explanation:

In order to calculate the aftertax salvage value of the equipment, first we would need to calculate the Book value of the equipment after 4 years as follows:

Book value of the equipment after 4 years = Purchase price *(1-depreciation rate each year)

= $2,000,000*(1-0.2-0.32-0.192-0.1152)

=$345,600

Loss on sale = $281,000-345,600

= 64600

Tax benefit on loss = $64,600*34% = $21,964

Therefore, After tax salvage value = selling price + tax benefit

= $281,000 + $21,964

=$302,964

The aftertax salvage value of the equipment is $302,964

5 0

4 years ago

Read 2 more answers

Swifty Fabricators produces protective covers for smart phones. Since the covers must be customized to each smart phone model, S

cupoosta [38]

Answer:

Required 1 Balances :

Direct Materials = $432,000

Work in Process = $183,060

Finished Goods = $40,000

Required 2 total manufacturing costs for September :

Total manufacturing costs = $905,060

Explanation:

Ending September balance of the Direct Materials,

Raw Materials T - Account

Debit :

Opening Balance $31,500

Purchases $3,708,000

Totals $3,739,500

Credit :

Ending Balance $3,307,500

Work In Process $432,000

Totals $3,739,500

Ending September balance of Work in Process,

Work in Process T - Account

Debit :

Opening Balance $152,000

Raw Materials $432,000

Labor Cost $291,060

Overheads Applied $166,000

Totals $1,041,060

Credit :

Ending Balance $183,060

Transfer to Finished Goods $858,000

Totals $1,041,060

Ending September balance Finished Goods .

Finished Goods T - Account

Debit :

Opening Balance $260,000

Transfer from Work In Process $858,000

Totals $1,118,000

Credit :

Ending Balance $40,000

Trading Account $1,078,000

Totals $1,118,000

Calculation of Total Manufacturing Cost

Raw Materials $432,000

Labor Cost $291,060

Overheads Incurred $182,000

Total Manufacturing Cost $905,060

3 0

3 years ago

Fifteen years ago, Lenny purchased an insurance policy on his own life. The policy provides a $3 million death benefit. Lenny ha

dalvyx [7]

Lenny will generate $471,250 after-tax cash.

<h3>What is an insurance policy?</h3>

The insurance policy, which establishes the claims that the insurer is legally obligated to pay, is a contract between the insurer and the policyholder.
The insurer guarantees to reimburse losses brought on by risks covered by the policy language in return for an upfront payment known as the premium.

<h3>What is a cash surrender value?</h3>

If a policyholder or the owner of an annuity contract chooses to cancel their policy before it matures or an insured event occurs, the insurance company will give them the cash surrender value as compensation.

<h3>Solution -</h3>

Money Lenny will get = $725,000.

Subtract the tax to find the money Lenny will get.

35% of 725,000 = $253,750.

$725,000 - 253,750 = 471,250$

Therefore, Lenny will generate $471,250 after-tax cash.

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6 0

2 years ago