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3 years ago

An income tax is progressive if the

Business

1 answer:

UkoKoshka [18]3 years ago

6 0

Answer:

Option C- An income tax is progressive if the percentage of income paid as taxes increases as income increases.

Explanation:

Majorly, there are three types of Tax systems; these are: Progressive, regressive and proportional.

A tax in which the tax rate increases as the taxable amount increases is known as a progressive tax.

The term "progressive" refers to the way the tax rate progresses from low to high, such that a taxpayer's average tax rate is less than the person's marginal tax rate.

Also,a progressive tax is applicable to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. It is imposed with the aim of reducing the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay.

Thus, an income tax is progressive if the percentage of income paid as taxes increases as income increases.

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In order to make sure that a creditor of the insured is not paid more than the outstanding loan at time of claim, the policyowne

Harman [31]

So one can make sure that a creditor of the insured isn't paid more than the exquisite mortgage at the time of declaration, the coverage proprietor should: Convertible insurance

A creditor is an entity, a business enterprise, or someone of a felony nature that has provided items, offerings, or a financial loan to a debtor. as soon as a creditor has given a loan, the fee is expected at a later date, generally agreed upon in advance.

A creditor is a man or woman or institution that extends credit to any other celebration to borrow cash normally by way of a mortgage agreement or contract. lenders including banks can repossess collateral like homes and automobiles on secured loans, and take borrowers to the courtroom over unsecured money owed.

For instance, a debtor/creditor relationship is if you take out a mortgage to shop for your house. then you as the property owner are a debtor, while the bank that holds your loan is the creditor. In trendy, if someone or entity has loaned cash then they are a creditor.

Learn more about creditors here:

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7 0

1 year ago

Aaron purchased footballs from Matthew for $370. Matthew had purchased the footballs from Tom by providing Tom with a bad check.

LenaWriter [7]

Answer:

The principle in Law 'Nemo dat quod non habet' states that an individual connot give what he does not have

Indeed Tom can rescind the contract with Matthew as he possesses voidable title to the balls

Explanation:

Until consideration has moved from Matthew to Tom the validity of the agreement/Contract remains inconclusive.

Considering his Account is not funded means he has no valid title to the Balls, he is merely in possession of the Balls but not the Owner.

Tom can sue demanding a return of the Balls irrespective of Matthew having sold them to Aaron.

Another illustration could be given of a thief who sells off a property. Inspite of the Buyer being unaware, because the thief has a voidable title it makes the transaction invalid.

8 0

3 years ago

If the company were to issue an annual zero-coupon bond with a maturity of 2 years and par value of $1,000, what would be the ar

Firdavs [7]

Answer:

Note: <em>The complete question is attached as picture below</em>

1a. The one year spot rate can be calculated using the one year zero bond.

PV * (1 + S1) = FV

1 + S1 = 1000 / 900

S1 = 1.1111 - 1

S1 = 0.1111

S1 = 11.11%

1b. PV of the 2 year bond = $950

Annual coupon = 1000 * 5% = $50

950 = 50 / (1 + S1) + (50 + 1000) / (1 + S2)^2

950 = 50 / 1.1111 + 1,050 / (1 + S2)^2

1,050/ (1 + S2)^2 = 950 - 45 = 905

(1 + S2)^2 = 1050 / 905

1 + S2 = 1.160221/2

S2 = 7.714%

1c. Price of the 2 year zero bond = 1,000 / (1 + 0.07714)^2

Price of the 2 year zero bond = 1,000 / 1.1602

Price of the 2 year zero bond = 861.9203586

Price of the 2 year zero bond = $861.92

3 0

3 years ago

Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 75.00. During these years of part

ser-zykov [4K]

Answer:

Annual deposit= 13,346.55

Explanation:

Giving the following information:

Exactly one year after the day he turns 75.0 when he fully retires, he will begin to make annual withdrawals of $129,100.00 from his retirement account until he turns 94.00. After this final withdrawal, he wants $1.85 million remaining in his account.

He will make contributions to his retirement account from his 26th birthday to his 65th birthday.

Assume an 8.00% interest rate.

First, we need to calculate the amount of money needed at 65.

39 years*129,100 + 1,850,000= $6,884,900

We need to calculate the value at 65:

PV= 6,884,900/(1.08^10)= $3,189,040.85

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= (3,189,040.85*0.08)/[(1.08^39)-1]= $13,346.55

8 0

3 years ago

Red Co. acquired 100% of Green, Inc. on January 1, 2012. On that date, Green had inventory with a book value of $42,000 and a fa

pav-90 [236]

Answer:

D) $15,000.

Explanation:

190,000 excess of value Building amortized over 10 years: 19,000

70,000 lesser value on Equipment amortized over 5 years: 14,000

We will amortize the building at a rate of 19,000 dollar per year

and we will amortize the equipment at 14,000 per year

the inventory as still is in the company's possesion will also need to be adjsuted

10,000 + 19,000 - 14,000 = 15,000

6 0

3 years ago