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jekas [21]
3 years ago
10

Athlete Kalen wishes to retire at age forty-five and receive annual birthday payments of $40,000 beginning on his forty-fifth bi

rthday. After his death, the payments on the anniversary of his birth should go to his heirs. In order for Kalen to be able to carry out his plan, he makes contributions to a savings account with a guaranteed annual effective interest rate of 4%. How much money will Kalen need to have accumulated at age forty-five, just prior to his first $40,000 birthday payment
Business
1 answer:
wolverine [178]3 years ago
0 0

Answer:

1,040,000

Explanation:

We can calculate the money will Kalen need to have accumulated at age forty-five by dividing the annual birthday payments by the effective interest.

DATA

Annual birthday payments = A = $40,000

Effective interest = i = 4%

Calculation

Value at age 45 = A / i + Co

Value at age 45 = (40000 / .04) + 40000

Value at age 45 = 1,040,000

Kalen will need to have accumulated money of 1,040,000 at age forty-five, just prior to his first $40,000 birthday payment.

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umka2103 [35]
Acquiring a government job based on political loyalty, without regard to ability, is called <span>political patronage.

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3 years ago
One major difference between low-income children who participated in the high scope preschool project and those that did not par
Ganezh [65]

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3 0
2 years ago
The business was started when the company received $48,500 from the issue of common stock. Purchased equipment inventory of $176
masya89 [10]

Answer:

Total current liabilities  85.008,33‬

Explanation:

current liabilities: obligations that will setlte within a one-year period

<em />

<em>accounts payable</em> from the purchase of equipment:

cost:          176,500

paid:      <u>  (125,900)  </u>

balance:    50,600

<em />

<em>waranty liaiblity:</em>

191,000 x 5% = 9,550

<em>sales tax payable:</em>

sales for     191,000

paid for   <u>  (141,000)  </u>

unpaid for  50,000 x 6% = 3,000

<em>note payable</em> with a local bank:

principal:   21,500

accrued interest: 21,500 x 5% x 1/3 = 358,33

net:   21,858.33

<u>Total current liabilities:</u>

accounts payables 50,600

warrant liability:        9,550

sales tax payable:    3,000

note payable:     <u>    21,858.33   </u>

                             85.008,33‬

5 0
3 years ago
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Oxana [17]

Answer:

True

Explanation:

The theory by Paul Samuelson postulated that trade liberalisation makes a rich country worse off when trading with a poor country.

Paul Samuelson being the American that won the Nobel Peace Prize in Economics, was also called the Father of Modern Economics.

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3 0
3 years ago
Read 2 more answers
Mack writes a check to his maid, Marianne, in payment for services rendered. Marianne indorses the check in blank and gives the
Vilka [71]

Answer:

Mack, Marianne, and Martin

Explanation:

Based on the information provided within the question it can be said that in this scenario if the bank dishonors the check St. Mark can look for recovery from Mack, Marianne, and Martin. This is due to the fact that they all endorsed the check. This is because by endorsing the check you are signing the back of it which means that you are making it payable to someone else, and if the check is not accepted you are taking responsibility for paying that person. Which Mack, Marianne, and Martin all endorsed the check.

5 0
3 years ago
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