Answer:
The correct answer is D: $10,329
Explanation:
Giving the following information:
You want to have the equivalent of $700,000 (in terms of today's spending power) when you retire in 30 years. Assume a 3% rate of annual inflation. The interest rate is 10% annual.
First, we need to determine how much is $700,000 in 30 years.
FV= PV*(1+i)^n
FV= 700000*(1.03^30)= $1,699,083.73
Now, we can calculate the annual payment required using the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual payment
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,699,083.73* 0.10)/[(1.10^30)-1]= $10329
What business leaders promised Hoover they would do to help the economy is to <span>keep factories open and stop slashing wages. However, they did not keep their promise, to nobody's surprise. </span>
the overall hange is a net-gain of 17% as the company's total revunue experienced an overall positive outcome over said two year period. :)
Answer:
The amount of real property taxes that Elaine is allowed to deduct for year 1 is $7150.
Explanation:
Elaine started living in the new home from July, which means that she has been living there for 6 months ( as per current date). But at the time when she purchased the house the total amount of property tax was $13,300 and now it is $14,300.
Since last 6 months she has been living in that home, and current property tax is $14,300 , that means now she is allowed a 50% deduction on the property taxes ,
$14,300 / 2 = $7150
Therefore Elaine is allowed $7150 as amount of deduction on property tax.
