Answer:
E. $2,688.77
Explanation:
We need to calculate the PMT of an ordinary annuity at 6%
PV 402,000
time:
85 years - 62 years = 23 years of retirement
23 years x 12 months per year = 276 months
rate: 6% annual rate we must divide over 12 months to convert into monthly: 0.06/12 = 0.005
C $ 2,688.766
<em>She can withdraw 2,688.76 per month</em>
<span>Implicit Cost Explicit Cost
The wholesale cost for the pianos that Darnell pays the manufacturer $452,000
The salary Darnell could earn if he worked as an accountant $48,000
The wages and utility bills that Darnell pays $301,000
The rental income Darnell could receive if he chose to rent out his showroom $38,000
B.
Profit ($)
Accounting Profit 842,000 - 452,000 - 301,000 = 89,000
Economic Profit 842,000 - 452,000 - 301,000 - 48,000 - 38,000 = 3,000
C. Economic Profit as an accountant = 48,000 + 38,000 - 89,000 = -$3,000. Thus, Darnell should stay in the Piano business to maximize the Economic Profit.</span>
Jim is doing what is<u> legally </u>right by providing this information to Samantha and Bethany.
<h3><u>The Truth in Lending Act (TILA): What Is It?</u></h3>
A federal statute known as the Truth in Lending Act (TILA) was passed in 1968 with the intention of assisting customers in their interactions with creditors and lenders. The Federal Reserve Board implemented the TILA through a number of regulations. The act's disclosure requirements for information like the annual percentage rate (APR), the length of the loan, and the overall costs to the borrower are some of its most significant features. The borrower must be made aware of this information clearly on all documents before signing them, including occasionally on periodic billing statements.
Learn more about The Truth in Lending Act (TILA) with the help of the given link:
brainly.com/question/7696024?referrer=searchResults
#SPJ4
Answer:
D) $2,000
Explanation:
Angela's basis on the stocks will be the same as her father's. Since she sold the stocks, her basis will be $8,000, so her recognized gains will = selling price - basis = $10,000 - $8,000 = $2,000
The IRS allows the donee (Angela) to use the doners (Ralph) basis when selling an asset received as a gift in order to determine the realized gain/loss.
Answer and Explanation:
The journal entries are shown below;
a. Investment Dr $37,282
To Cash $37,282
(being the investment in bonds is recorded)
b.
Cash (($1,000 × $40) × 0.07 × 6 ÷ 12) $1,400
Investment $91
To interest revenue ($37,282 ×8% × 6 ÷ 12) $1,491
(Being the first interest payment is recorded)
