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olga_2 [115]
3 years ago
6

A $3,000 annual contribution to a retirement account earning 6% will be worth ____ in 20 years.

Business
2 answers:
iris [78.8K]3 years ago
6 0

Answer:

$60,001.20

Explanation:

3,000 + 6% = 3,000.06 × 20 = 60,001.2

Bond [772]3 years ago
4 0

Answer with Explanation:

Question does not state what kind of interest, here are the three common possibilities:

1. Simple interest of 6%:

Future value (FV) = 3000*(1+0.06*20) = $6600

2. compounded annually:

Future value (FV) = 3000*(1+0.06)^20 = $9621.41 (nearest cent)

3. compounded monthly:

Future value (FV) = 3000*(1+0.06/12)^(20*12) = $9930.61 (nearest cent)

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sale of merchandise on account for $36,000 is subject to an 8% sales tax. a. Should the sales tax be recorded at the time of sal
aleksandr82 [10.1K]

Answer:

a.Sales tax to be recorded at the time of sales.

b.36000

c.38880

d.Sales tax payable

Explanation:

a.Because sales tax is subjected to sales so it is liability of seller to charge sales tax to customer.

b. Sales = $36000

c.Account receivable = [36000+(36000*8%)]=36000+2880=38880

       Entry: Dr  Account receivable  38880

                                                      Sales                  36000

                                                   Sales tax payable  2880

d. Sales tax payable, it is liability for a seller to refund to government treasury.

6 0
3 years ago
A+house+sold+for+$120,000,+which+was+96%+of+the+list+price.+what+did+the+house+list+for?
svp [43]

House listed for 4% So, The correct answer is 4% which is 4800

A strong, SEO-focused website that enables you to integrate IDX listings and funnel those leads directly into your CRM may need some initial investment, but it is an essential component of any successful real estate business.

Step-by-step explanation:

120,000 - 115200 = 4800

4800/120,000 = 0.04

0.04 * 100 = 4 percent

What is a listing on a house?

A contract that certifies a real estate agent's or broker's authority to manage the purchase or sale of real property and to be paid a fee or commission for their services. Real estate listings come in a variety of forms.

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5 0
1 year ago
Forsyth County charges a 7% sales tax. If you bought a new printer form $3250.00, what is the total cost for the printer?
iren2701 [21]

Answer:

Total cost = $3477.5

Explanation:

Given the following data;

Sales tax = 7%

Cost price = $3250.00

To find the total cost for the printer;

First of all, we would determine the sales tax

Sales tax = 7/100 * 3250

Sales tax = 7 * 32.5

Sales tax = $227.5

Now, we can find the total cost;

Total cost = sales tax + cost price

Total cost = 227.5 + 3250

Total cost = $3477.5

5 0
3 years ago
If total liabilities decreased by $30,000 and stockholders' equity decreased by $10,000 during a period of time, then total asse
boyakko [2]

Answer:

C) $40.000 Decrease

Explanation:

The accounting equation states that: Assets = Liabilities + Equity, so in this case the Assets must decrease in the same amount that change the other side of the equation, $40.000.

4 0
2 years ago
Sparty Corporation has provided the following information for its most recent year of operation: Revenues earned were $88,000, o
AlekseyPX

The amount of net income reported on Sparty's income statement is $19,690.

<h3>What is revenue?</h3>
  • The total amount of income earned by the sale of goods and services connected to the principal operations of the firm is referred to as revenue in accounting.
  • Commercial revenue is often known as sales or turnover.
  • Some businesses make money by charging interest, royalties, or other fees.
<h3>What are dividends?</h3>
  • A dividend is a profit distribution made by a corporation to its shareholders.
  • When a corporation makes a profit or has a surplus, it can pay a portion of the earnings to shareholders as a dividend.
  • Any money that is not dispersed is re-invested in the company.
<h3>Solution -</h3>

To find the amount of net income reported on Sparty's income statement, use the following formula:

Net Income = Gross Profit — Operating Expenses — Other Business Expenses — Taxes — Interest on Debt + Other Income

Net income = 80000 - 31000 - 11000 - 18130 = 19690

Therefore, the amount of net income reported on Sparty's income statement is $19,690.

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4 0
2 years ago
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