Answer:
c. IRS rules allow the taxpayer to specify which shares being sold
Explanation:
As eahc method will make the capital gain or loss to differ the Internal Revenue Service leaves to the stockholder to decide the method
The default method is the FIFO method which states the first shares purchased are the first sale but, leaves choise to the stockhodler to use specific identification which, is what the statement correctly points out.
The method are not "required" but allowed as the stockholder see fit.
The total amount accrued, principal plus interest at a rate of 9% per year compounded 1 times per year over 12 years is $1,996,992.00.
<h3>Compound Interest</h3>
Given Data
A = P + I where
P (principal) = $710,000.00
I (interest) = $1,286,992.00
Calculation Steps:
First, convert R as a percent to r as a decimal
r = R/100
r = 9/100
r = 0.09 rate per year,
Then solve the equation for A
A = P(1 + r/n)nt
A = 710,000.00(1 + 0.09/1)(1)(12)
A = 710,000.00(1 + 0.09)(12)
A = $1,996,992.00
Learn more about Compound Interest here:
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This question is a little but more difficult to solve, as it depends on the situation. For certain banks it is not worth it due to rates that must be payed, but in your case here I believe that it would be TRUE.
Answer:
Unlimited printing of money will cause the problem of inflation.
Explanation:
Inflation is a general increase in the price of goods and services.
It can be caused by the following:
Demand-pull inflation - This type of inflation is caused by an excess demand for goods and services by consumers without commensurate supply from suppliers.
Cost-push inflation - This type of inflation is caused by an increase in the price of goods and services.
Lastly, out of others, I will like to discuss inflation caused by unlimited printing money.
I sometimes wonder why the country cannot just prompt money so that we can all be smiling and spending cash together. The fact is that this will reduce the purchasing power of money because it is in excess and ultimately leads to inflation.
When there is unlimited printing of money in a country, the cash in the circulation will be in excess, hence more money will be needed to buy few product. That is an indication of inflation.
