Answer:
Annual deposit= $4,143.66
Explanation:
Giving the following information:
You need to have saved $1,000,000 in 30 years. You can invest in a retirement account that guarantees you a 12% annual return.
To calculate the annual deposit needed to achieve the objective, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,000,000*0.12)/ [(1.12^30)-1]= $4,143.66
Answer:
$76,440
Explanation:
Calculation to determine the proper amount of net income as of December 31, 2018
Net income $87,000
Less Adjusted for insurance ($4,050)
($16,200*3/12)
Less Adjusted for deferred income ($2,700)
Less Adjusted for supplies ($2,100)
Less Adjusted for interest ($1,710)
($57,000*9%*4/12)
Net income (Adjusted) $76,440
Therefore The the proper amount of net income as of December 31, 2018 will be $76,440
In order to calculate how much of the linguist's pay got withheld for federal income tax last year, you need to do this:
53 350 * 0.179 = <u>$9,549.65</u>
I would say $800 since the unpaid amount is for the whole month and weekly they are paid on Friday so they would only be out the one day or the $800. In other words, for a month or if that is 4 weeks exactly they would get paid 4 x 4000=16000-800 = $15,200 on the Thursday.
Retirement planning should include determining time horizons, estimating expenses, calculating required after-tax returns, assessing risk tolerance, and doing estate planning. Start planning for retirement as soon as you can to take advantage of the power of compounding.
Planning for retirement is making preparations for your future so that you can continue to achieve all of your objectives and desires on your own. Setting your retirement goals, calculating how much money you will require, and making investments to increase your retirement savings are all included in this. Every retirement strategy is different.
Planning for retirement is crucial because it might prevent you from running out of money in later life. Your strategy can assist you in determining the rate of return you require on your assets, the appropriate level of risk, and the maximum amount of income you can safely draw from your portfolio.
Learn more about Planning for retirement here
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