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oksian1 [2.3K]
4 years ago
6

Assume you are now 25 and you want to have a million dollars by the time you are 65. if you can earn 6% per year, compounded ann

ually, how much must you invest today?
Business
1 answer:
Trava [24]4 years ago
3 0
You would have to invest 97,222
97222*6=5833.32 + 97222= 103055.32 Year one
103055.32*.06= 6183.32 = 109238.64 Year two
109238.64*.06= 6554.32= 115792.96 Year three
115792.96*.06= 6947.58 = 122740.54 Year four

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A tax placed on people or organizations in relation to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate income taxes. Tax rates might change depending on the taxpayer's attributes and source of income.

The complete part of the question is below:

A) Review Later Income tax expense includes both the amount of tax payable in the current period and the amount of tax due in future periods.

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